Goldman Sachs lowers target price of Reliance Industries’ stock, maintains ‘Buy’
Global brokerage Goldman Sachs on Thursday lowered its target price for Reliance Industries Ltd (RIL), while maintaining 'buy' rating for the diversified group.
Global brokerage Goldman Sachs on Thursday lowered its target price for Reliance Industries Ltd (RIL), while maintaining 'buy' rating for the diversified group.
Reliance Industries, ICICI Bank, State Bank of India, ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, and Infosys faced erosion from their market valuation.
Last week, nine of the top 10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation. Hindustan Unilever and Reliance Industries Limited took the biggest hit.
Reliance Industries Limited (RIL) reported quarterly consolidated revenue at Rs 2.58 lakh crore for Q2 FY25.
Revenue for Jio Platforms increased by 11.7 per cent Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU.
The bench also stayed the single judge order to attach assets of Future Group's Kishore Biyani and others directing them to appear in the court on April 28.
Following the large-cap markets, the broader markets also plunged with MidCap and SmallCap closing at 1.3 and 1.6 per cent down respectively.
The proposed skyTran transportation systems would consist of computer-controlled passenger pods.
With this unit, the company intends to rope in Saudi national oil company Aramco by selling up to 20 per cent equity.
In its petition, Amazon sought enforcement of the Singapore arbitrator's ruling in October against its partner Future's Rs 24,713 crore deal with Reliance.
