Consumer biz outlook earns RIL a major re-rating; target prices rise up to Rs 1,700

Mumbai: While the shares of India’s most valued company, Reliance Industries (RILNSE 0.20 %), hover around record high levels, analysts believe its telecom arm Jio, the country’s largest, is all set to further drive the stock’s outperformance thanks to the recent tariff hike.

While the energy-to-telecom conglomerate’s core-business environment looks weak, its consumer-facing businesses – retail and telecom – are doing well, driving up valuations for the stock.