RIL AGM 2021: Here's what brokerages make of announcements

SUMMARY

Brokerages are bullish on Reliance Industries after the company made a number of announcements at the 44th AGM with the highlight being its green energy push. Here's a look at what the brokerages make of the announcements:

By CNBCTV18.comJun 25, 2021 9:18:45 AM IST (Published)

CLSA on RIL AGM: The brokerage maintains an 'outperform' call on the stock with the target at Rs 2,250 per share. It stated that the company exhibited hopes of closing the O2C stake sale with Aramco this year and added that the clarity on new energy foray is useful.

JPMorgan on RIL AGM: The brokerage maintains a 'neutral' call on the stock and raised its target to Rs 2,250 per share from Rs 2,055 earlier. It said that the $10 billion capex in green/renewable biz over the next 3 years was the key highlight in RIL AGM.

Edelweiss on RIL AGM: The brokerage maintains a 'hold' call on the stock with a target at Rs 2,105 per share. It believes that new energy will provide the next leg of growth for the company.

Morgan Stanley on RIL AGM: The brokerage is 'overweight' on the stock with the target at Rs 2,262 per share. It noted that the company's partnership approach in the new energy business should not cause de-rating.