Brokerages stay bullish on RIL, see twin propellers in Jio and retail

Mumbai: Some brokerages have retained a bullish view on Reliance Industries in the last few days, reiterating their positive outlook on the company’s retail and telecom business. CLSA has maintained an outperform rating as Reliance’s telecom business Jio showed its first-ever positive free cash flow and strong subscriber expansion. Goldman Sachs has retained a buy rating saying that Reliance’s retail growth opportunity is underappreciated. ET takes a look at the brokerage commentary on RIL in recent days. The stock ended down 0.5% at Rs 2,226 on Tuesday but it has run up 12% ahead of Friday’s Annual General Meeting.