Jefferies has put out a note on Reliance Industries and the global brokerage is constructive on RIL. It has set a target price of Rs 2,600 with a buy rating.It says that the overseas investors are more constructive on Reliance Industries at this point in time compared to the domestic peers.A majority of the investors believe that Reliance is turning out as a local champion with the right to win in retail and telecom.
Some investors believe that event-driven triggers are behind, but Jefferies believes that there are few more triggers left for the stock to re-rate.
– One is the launch of affordable smartphone
– The Future Group deal
– O2C stake sale over the next 12 months.
News Source: CNBC TV 18