RIL AGM : This week the market will be eyeing RIL’s AGM, which is scheduled to be held on August 29. Where can the focus be in this AGM? What are the brokerage houses predicting? While telling this, Yatin Mota of CNBC-Awaaz said that the brokerage is waiting for the further roadmap on the IPO of the company’s New Energy, Jio and Retail business in this AGM.
CLSA on RIL’s AGM
CLSA has recommended buying RIL shares with a target of Rs 3,300 per share. The brokerage says that the picture of the company’s new energy business will be clear in the AGM to be held on August 29. The company plans to launch a solar PV giga factory by the end of 2024.
Clarification on solar manufacturing capex of $100 million is expected in this AGM.
Market outlook: Nifty closed above 25000, know how the market may move on August 27
Kotak Institution Equities advice on RIL
Kotak Institution Equities has maintained its ‘Add’ rating on RIL and has given a target of Rs 3200 per share. The annual report for FY24 indicates a reduction in retail capex. A 50 per cent reduction in retail capex is a positive sign. Consolidated capex has declined by only 7 per cent in FY24. Telecom capex is very high. Other segments are expected to grow 5 times.
If we look at the movement of the stock, today this stock closed with a gain of Rs 25.25 i.e. 0.84 percent. The trading volume of the stock was 4,408,057 shares. The stock touched a high of Rs 3,046 in intraday. Reliance Industries has given a return of 1.63 percent in 1 week and 22.56 percent in 1 year.
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