Reliance Industries Limited, the largest company in the country, ended 2024 on a negative note, as the company ended the calendar year with negative returns to its investors.
Jefferies and Bernstien Go Bullish On RIL
However, the start of 2025 appears to signal a different tone. Major brokerage companies, including Jefferies and Bernstein, have reiterated their bullish stance on the Mumbai-based conglomerate.
The Mukesh Ambani-led company also made it to headlines when the company procured A USD 3 billion in a loan deal from 11 banks.
This is being done with the intention to refinance the debt that is due in 2025.
The equity markets appear to have welcomed these developments, as the shares of the flagship Reliance Industries Limited rose on Wednesday, January 8.
Mukesh Ambani | Image credit: Wikipedia
Growth Prospects For RIL
According to the aforementioned brokerage companies, they see a long-term growth potential in the company.
It also needs to be noted that the company, which has many listed entities is also gearing up to list one of its major entities, Reliance Jio or simply Jio.
Jio is the largest telecom company in India, with more subscribers than Airtel and Vodafone Idea, two of its main competitors.
Bernstein also laid emphasis on these sectors. According to the brokerage company, the growth of the company and its revenue would be driven by the Telecom and Retail arms of the company.
Reliance Industries Shares
Reliance Retail, which is home to Reliance Fresh, JioMart, Hamleys, Reliance Trends and Reliance Digital among others is headed by Mukesh Ambani’s daughter Isha Ambani.
When we take a closer look at the shares of the flagship company, the shares have progressively traded in a positive direction after starting the day at Rs 1,249.00 higher than its previous closing.
At the time of writing, the rise in the value of the company shares stood at 2.18 per cent or Rs 27.00. This took the overall value of the company shares to Rs 1,267.85 per piece.
