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Despite the fall, Reliance Industries shares continued to rise, only Rs 100 away from lifetime high

Reliance Industries Share Update: On Tuesday, the stock market closed with a heavy fall. But Reliance Industries Limited, the most heavyweight stock of the market, saw a great rise. Due to which the market was saved from a big fall. The share of Reliance Industries has climbed by Rs 97 i.e. 4 percent to close at Rs 2640. However, the stock went up to the level of Rs 2668 in the day’s trading. But there was a decline from there, after which the stock closed at Rs 2640.

However, the stock of Reliance Industries is just less than ₹ 100 away from its all-time high of 2,750 in October last year. On BSE, RIL had a market capitalization of over ₹17.96 lakh crore, which is close to the ₹18 lakh crore mark.

A decade ago, investors were worried about Reliance Industries’ investments in both Reliance Jio and Reliance Retail. However, RIL transformed both the businesses in such a way that they are contributing tremendously to the growth of the company in terms of EBITDA contribution. In fact, due to better prospects, Jio and the retail business account for two-thirds of the company’s value.

If you buy shares of Reliance Industries, then you can get returns of up to 40 percent in the coming one year. Brokerage and research firm Jefferies has said in its report that the share of Reliance Industries can go up to Rs 3400. According to Jefferies, Reliance’s stock has underperformed compared to Nifty in 2021, but this year the story may reverse. Due to the retail and telecom business, the growth of Reliance Industries will increase by 36 percent.

Earlier, Goldman Sachs analysts have said in their report that the stock of Reliance Industries can touch new heights. Goldman Sachs analysts have said in their note that the stock of Reliance Industries can touch a height of up to 83 percent from its current level. In the base case, the company’s stock can see a jump of up to 35 percent and it can go up to the level of Rs 3,185.

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