RIL share price rises 2.5% after 2 days of selling; Vaishali Parekh has a buying advice

on BSE, RIL stock closed on up Rs 2,377.40 54.65 or 2.35%. It is the largest Indian company in terms of market share.

By February 14, RIL’s market hat is over 16.08 lakh crores.

RIL shares climbed up to 2.51% with intraday high 2,381 per share on Dalal Street during Tuesday’s session.

Vaishali Parekh, Vice President – ​​Technical Research at Prabhudas Lilladher has a buy recommendation on RIL shares.

In a report dated 14th February, Parekh said, RIL stock has seen a decent correction from 2750 levels and has moved down near 2300 zone, which is a good support level of the previous low, which is almost a 10% higher on the daily chart. Creates a double bottom formation. ,

“With a decent pullback, the bias has been corrected and upside potential is visible from here,” he added.

Moreover, RSI has indicated strength with a trend reversal from the oversold zone so the charts look attractive and risk-reward favourable, hence Parekh said, “We recommend this stock with an upside target of 2610 keeping support.” Recommend to buy and deposit. Rs 2275.”

In a recent report, Jefferies said, “RIL stock has corrected 14% since December and trades at 18x ​​FWD PE-a discount to its LT average. Seeing 18% earnings growth in FY24E.” This is attractive. The current stock price is zero. Value for RIL’s renewable business in our view. We expect investors to meaningfully value renewable energy when first revenue is realized in CY24. Repeat Buy with PT 3,100.”

As a base case scenario, Jefferies forecasts 24% EBITDA CAGR in Jio over FY22-25E, helping around 473m customers 206 ARPU; 35% EBITDA CAGR in Retail over FY22-25E; 11% EBITDA CAGR in Refining over FY22-25E; 4% EBITDA CAGR in Paytm over FY22-25E.

The brokerage has valued RIL’s renewable business at $28 billion and noted that the current market price of the stock 2,320.60, at the end of February 13, meaning “low value to the business”.

RIL continues to expand its Jio True 5G services across India. RIL’s telecom arm Reliance Jio on Tuesday launched Jio True 5G services in Himachal Pradesh from Shimla. Additionally, 5G services were launched simultaneously in Hamirpur, Nadaun and Bilaspur in the state. Now, the total number of cities enjoying Jio True 5G services is 257.

Disclaimer: The views and recommendations given above are of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.