It was a stellar first quarter for Reliance Industries (RIL). The company managed to beat street estimates on all major parameters. They have also announced a 1:1 bonus given some clarity on their telecom plans.
In an interview to CNBC-TV18, Jal Irani, Oil & Gas Analyst at Edelweiss Financial Services spoke about the same.
We have hiked target price on RIL by Rs 100 per share - to Rs 2,018 - on the core petrochem and refining business, he said.
Edelweiss has also hiked valuation on Reliance Jio by Rs 239 per share based on a discounted cash flow basis given that greater details have been emerging, he added.
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Reliance Industries, the parent company of Reliance Jio, owns Network 18 that publishes Moneycontrol.com.
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