RIL target price at Rs 2,500: JM Financial
By IANS |
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India s ongoing rally might get extended, if the market s big bull Reliance Industries stock started to participate in the up-move, say market watchers.. Image Source: IANS News
New Delhi, April 1 : JM Financial has reiterated a buy with a target price of Rs 2,500 as Reliance Industries Limited (RIL) is entering a strong free cash flow generation phase with major capex completed and expectation of strong 17-18 per cent EPS CAGR over the next 3-5 years led by Digital and Retail businesses.
JM Financial said in a report that Jio s subscriber momentum could be bottoming out, given its aggressive strategy to acquire significant quantities of capacity spectrum to regain subscriber momentum via its new Jio Phone offers and impending launch of the low cost smartphones.
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