The upcoming annual general meeting (AGM) of Reliance Industries is expected to be a significant event for the company’s stock and investors. During the AGM, Reliance Industries may provide valuable insights into its plans for value unlocking in the retail segment, updates on its new energy business, and developments in Jio Financial Services (JFS).
The brokerage firm, Nomura India, has maintained its ‘Buy’ rating on Reliance Industries’ stock and has set a target price of Rs 2,925. This target price suggests a potential upside of 15.33% over Friday’s closing price, indicating a positive outlook for the stock.
The AGM of a company often serves as a platform for management to share strategic plans, future growth initiatives, and key developments with investors and stakeholders. Investors are likely to closely watch the AGM to gain insights into Reliance Industries’ plans for its various business segments, including retail, new energy, and financial services offered by Jio Financial Services.
It appears that Nomura India has maintained its ‘Buy’ rating on Reliance Industries’ stock, despite a few other brokerages choosing to cut their rating on the stock. The decision to retain the ‘Buy’ tag indicates Nomura India’s continued confidence in the company’s growth prospects and potential for investors.
The reasons cited by other brokerages for downgrading their rating on the stock include limited upside potential after the company’s June quarter results, which were in line with expectations. Additionally, the demerger of Jio Financial Services (JFS) might have raised concerns for some analysts, potentially impacting their assessment of the stock’s potential.
