Jefferies recommends buy on RIL, sees 22% upside. 4 reasons

June 21, 2023

Jefferies has recommended a ‘Buy’ on Reliance Industries (RIL) shares based on the expectation of faster revenue growth. The brokerage firm predicts a 22% upside in the stock from current levels and lists four reasons why RIL could see a rally, including growth potential in the retail sector, improving margins in O2C, Jio’s broadband traction aiding 5G monetisation and green energy investments. Jefferies sees risks-to-reward favourable for RIL and sets a price target of Rs 3,125.

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