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Macquarie downgrades RIL to 'underperform', says will buy around Rs 1,200

It cautioned that its fundamental bear case is nearly 35 per cent below current price and it would assign at least a 30 per cent weight to each of the risk factors.

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4 min read Last Updated : Jan 31 2020 | 10:06 AM IST

Reliance Industries (RIL) shares declined nearly 2 per cent on Thursday, after the global brokerage firm Macquarie downgraded the stock to 'underperform' saying most of the positives are already priced in.

At 11:06 am, the stock partly recopued morning's loss and was trading over 1 per cent lower at Rs 1,459 apiece on the BSE as compared to 0.67 per cent slide in the benchmark S&P BSE Sensex.

The brokerage firm noted that there are several things to like about the oil-to-telecom behemoth such as entrepreneurial vision, disruptive bent, execution of large-scale complex projects, delivery on growth, strong positioning to

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