New Energy another multi-decade growth engine for RIL: Goldman Sachs

As a strategy, Goldman Sachs expects RIL to focus first on the domestic markets given tariff and non-tariff protection, capex incentives and demand creation through regulatory support

Reliance Industries’ (RIL’s) approach to net zero emissions with a hyper integrated model spanning solar battery and hydrogen value chain has caught the attention of most analysts. In a December 7 report, analysts at Goldman Sachs have reiterated a 'buy' rating on the stock with a 12-month target price of Rs 3,185 - up nearly 34 per cent from the current levels.
 
The global research and brokerage house sees RIL as India’s largest ‘greenabler’ with their new energy capex ratio being one of the highest amongst large energy peers. The New Energy business segment, Goldman Sachs believes, is another