Buy calls increase for RIL shares on the back of big-ticket announcements

Ambani said the Aramco deal had not progressed according to the timeline because of unforeseen circumstances and Covid-19

Domestic brokerages have revised Reliance Industries’ (RIL’s) target price anticipating higher earnings. The revision comes on the back of the company’s big-ticket announcements in retail and telecom at its annual general meeting on Wednesday.
 

Elara Capital revised its rating to ‘accumulate’ from ‘buy’ and increased its target price 7 per cent to Rs 1,981. IDBI Capital, too, changed its rating, to ‘buy’ from ‘hold’, and increased target price 17 per cent to Rs 2,154. Motilal Oswal Securities and Centrum Broking have increased target price by around 9 per cent. The RIL stock remained flat at Rs 1,843.10 at the close