The stock of Reliance Industries (RIL) has gained 14% since the beginning of 2024, beating the 4% increase in the S&P BSE Sensex following signs of peaking capital expenditure and improving prospects across business verticals.
TRIL price target: The stock hit its 5 per cent upper circuit limit a Rs 494.25 on BSE. This was the 12th straight day of rise for the stock. Nuvama has a target price of Rs 575 on the scrip.
Minda Corporation Ltd and Mankind Pharma Ltd were two companies where both mutual funds and FPIs upped stakes. MFs upped stake in Mankind Pharma by 102 basis points to 8.57 per cent from 7.55 per cent sequentially.
Major investment firms worldwide are seeking the next generation of artificial intelligence (AI) leaders beyond the borders of the United States. Despite the significant rise in the valuation of Nvidia Corp. and a notable increase in a key American semiconductor index, propelled by global enthusiasm for AI, investors are now turning their attention to emerging markets for greater value and a wider array of investment opportunities. Reliance Industries Ltd., led by billionaire Mukesh Ambani, stands out among these emerging players
The global brokerage sees 17% CAGR growth in the company s EBITDA over FY 2024-27 with capex at its peak and inflecting returns. Goldman Sachs noted that RIL s capex is peaking in longer gestation capex businesses.