Buy Reliance, target price Rs 1,748: Angel Broking
Angel Broking has given a buy rating to Reliance Industries with a target price of Rs 1,748.
Reliance Industries Ltd. (RIL) is India’s largest company with a dominant presence in refining, petrochemicals, telecom and retail businesses. The telecom business to witness robust growth over next few years due to tariff hikes and shift of subscribers from Vodafone Idea to other telecom players.
Investment Rationale
RIL has built up a dominant telecom business and has already attained market leader status with 38.5 cr. subscribers at the end of Q3FY20. Telecom business to witness robust growth over next few years due to tariff hikes and shift of subscribers from Vodafone Idea to other telecom players. RIL has also built a very strong retail business which is the largest organized retailing company in India.