Can RIL Price Hit Rs. 3000/Share After Sharp Rise To Rs. 2343.90/ Share?

RIL shares today's (September 11, 2020) trades only marginally higher in comparison to massive 7% gains in the previous session after the conglomerate became the first Indian company to hit a market-cap of $200 billion and also hit a 52-week high of Rs. 2343.90 per share.

Can RIL Price Hit Rs. 3000/Share After Sharp Rise To Rs. 2343.90/ Share

Here are brokerages' views on the RIL stock:

1. Credit Suisse:

The global rating agency sees a downside in the stock price of RIL of more than 16% to Rs. 1930 from the current levels. As per the company, the integration of global strategic firms into company's retail business has been way to early when the conglomerate firm has started off with the e-commerce segment of grocery and food only few months ago. After the deal, the firm maintains 'Neutral' rating on RIL stock.

2. CLSA:

The company has given an 'Outperform' rating on the stick and believes that the latest Silver Lake and Reliance Retail deal shall limit any large higher upside in the stock. "Unlike, Jio Platform deals, this doesn't bring in a new marquee strategic player and the fact that debt is no more concern may also limit positive surprises," it said.

3. JP Morgan:

This agency has also held 'neutral' rating on the stock is finding it difficult to understand who would RIL's new commerce strategy fit into Reliance Retail, WhatsApp and a strategic player that is already a leader into retail segment. The firm's stock price has also been drowngraded 11% with a target price set at Rs. 2060 per share.

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