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Reliance Industries Ends 6% Higher; Jefferies Gives A Buy With A TP Of Rs. 2580
Reliance Industries shares in today's trade (May 28, 2021) gained 6.5 percent to day's high price of Rs. 2105 per share. This is against the previous closing of Rs. 1976. Nonetheless the scrip settled higher by 6 percent at Rs. 2094.8 per share on the NSE.
In fact the stock of Reliance Industries has been the top contributor to Nifty's gains of 0.76 percent or 117 point. Nifty index in today's session clocked a new record high of 15455.55 points, while Senex scaled to a day's high of 51477.
Jefferies Gives 'Buy' On Reliance Industries
Jefferies, the global research firm has given a 'buy' recommendation on the stock of Reliance Industries and gave a target of Rs. 2580 per share.
In its report, the research firm highlighted that the petrochemical business of the firm may say EBIDTA growth of 14-15 percent. Also, the turnaround in demand for petrochemical products globally will provide an impetus to the company's business and thereby its stock price.
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