ICICI Direct is bullish on Reliance Capital has recommended buy rating on the stock with a target price of Rs 540 in its research report dated February 14, 2017.
ICICI Direct's research report on Reliance Capital
Adjusted RoE is expected to gradually move to double digits in two or three years. The stock is trading at 0.8x for FY18E forward P/ABV. We upgrade rating from HOLD to BUY, maintaining our target price at Rs 540/share on SoTP basis. We have built in 15% holding company discount.
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