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Cash Market | Reliance leading the markets

Reliance has sharply moved up on the back of a renewed upswing in its stock

June 30, 2022 / 06:25 AM IST
Cash Market | Reliance leading the markets

Reliance Industries | CMP: Rs 2,555.10 | The stock price slipped a percent on June 16 after rising over 2 percent in the early hours of trade. Research house JPMorgan India upgraded rating and raised the target for the stock. The brokerage upgraded its rating on Reliance to overweight from neutral and raised the target to Rs 3,170 from Rs 2,575 per share implying an upside of more than 22 percent over the next 12 months. It said that its rating upgrade is driven by improvement in earnings outlook of the refining and upstream gas business as well as the consumer technology businesses’ valuations holding. Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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