Analysts most bullish on Reliance Industries shares since 2016; check buy-sell ratio on Mukesh Ambani stock Analysts are at their most bullish on billionaire Mukesh Ambani’s Reliance Industries Ltd. since January 2016 amid a dip in the share price of India’s largest company. The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses.Analysts are most bullish on Reliance Industries shares since 2016 The planned listing of the company’s Jio Financial Services Ltd. later this year “could drive value unlocking and is a potential key trigger for the stock,” said Hemang Khanna, an analyst at Nomura Financial Advisory & Securities India Pvt. He added that consumer and new-energy businesses will be key drivers of value creation for Reliance.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
As part of its association with Ultimate Kho Kho, IndianOil will secure the naming rights for the post-match award, recognising the ‘Attacker of the Match.’ Additionally, IndianOil will also have the naming rights to the league’s exciting powerplay segment, which was dominated by Chennai Quick Guns’ stalwart all-rounder Ramji Kashyap who accumulated a total of 24 skydive points this season.
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