Best Stock: Advice to invest in RIL in falling market, stock can go up to Rs 3400

 RIL Stock Target: Amidst the fall in the stock markets globally, brokerage house Jefferies expects that its shares will benefit investors fiercely in the coming days regarding the shares of Reliance Industries. Keeping in view the refining margin, the rating of RIL has been improved.



Foreign brokerage houses are constantly changing their approach regarding Reliance Industries, the company of industrialist Mukesh Ambani and are advising investors to buy RIL shares. After improving the ratings from Morgan Stanley in May and JP Morgan in June, now Jefferies has also increased the target price of Reliance shares.

Share price will increase by 34 percent

The brokerage house analysts have raised the target price of the company's shares to Rs 3,400, which is 34 per cent higher than the current level. Shares of Reliance Industries closed at Rs 2,502 with a fall of 3.18 per cent at the end of trading on Wednesday. Jefferies has said in its report that the benefit of rising inflation in the energy sector is going to be given to Reliance.

It added that with every $1 per barrel improvement in annual refining margins, RIL's consolidated Ebitda would add up to an estimated $400-450 million.

Expected better profit

Let us inform here that before Jefferies, brokerage house JP Morgan, while changing the rating of Reliance, overweighting it from neutral, has fixed a target price of Rs 3,170 for its stock. Along with this, Morgan Stanley also made changes and increased the target to Rs 3,253. Earlier, a target of Rs 2,575 was set for the stock. Keeping in view the refining margins, brokerage houses have improved their estimates. It has been hoped in the report that the profits of the company will be better in the coming days.

profit margin for investors

Jefferies has termed investment in Reliance shares as a profitable deal. Analysts have said that at present, the kind of decline in the stock markets around the world, amidst that environment, the prospects for Reliance's shares are giving relief. Inflation in the energy sector is increasing rapidly not only in India but all over the world and Reliance is a major player in this sector. In such a situation, keeping in mind the refining margin, brokerage houses have advised to bet on it while improving the rating of Reliance.

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