RIL at Rs 3,200? Here’s what foreign and domestic brokerages said post the company’s AGM

A couple of foreign and domestic brokerages have kept their buy ratings on Reliance Industries NSE 1.55 % (RIL NSE 1.55 %) intact post the company’s annual general meeting (AGM), with price targets up to Rs 3,205, suggesting a potential 22 per cent upside on the counter.

CLSA maintained a buy rating on the stock with a target of Rs 3,180. JPMorgan finds the stock worth Rs 3,065. Capex for RIL has picked up, it said, adding that capital expenditure will stay elevated over 2-3 years.