Invest in RIL: Price Set to Touch Rs 2,710 Mark
Reliance Target Price: Reliance Industries recently released its second quarter financial results. According to most experts, these financial results have been less than expected.
But even after this, brokerages are believing that Reliance’s stock can make profit. Let us know that how many benefits MK Global Financial Services has expressed its expectation.
First Know How Much is Reliance’s Share Rate Now
Reliance’s share rate is currently Rs 2,441.55 on the NSE. At the same time, the rate of this share is Rs 2,441.85 on BSE. The stock had made a low of Rs 2,180.00 and a high of Rs 2,856.15 on the NSE in the last one year.
Know What is the Target Given by MK Global Financial Services
MK Global Financial Services has issued its research report on Reliance on October 24, 2022. The closing rate of Reliance that day was Rs 2,472.
The company has given a buy recommendation on Reliance with a target of Rs 2,710. In this way, the company has told that still 9.6% can be earned by investing in this stock.
However, after that this share has come down some more. In such a situation, if we keep an eye on the price target, then this profit can be slightly more.
Know How is the Investment of the Company
As of June 2022, the shareholding pattern in Reliance has been as follows.
- Promoters: 49.1 per cent
- FII: 23.2 percent
- DII: 14.2 percent
- Public and others: 13.5 percent
Reliance Will Give Free Shares of the Financial Services Company
While releasing the financial results, Reliance had told that it is going to strengthen its position in the financial sector.
For this, it is forming a new company by demerging its financial services unit. The name of this new company will be Jio Financial Services Limited (JFSL). This new company will be listed on the stock market.
However, instead of selling Reliance shares, it will give shares of this new company for free.
For every share of Reliance, one share of the new company Jio Financial Services will be given free of cost. This share will be a fully paid-up share of Rs 10 each.
