CLSA has reiterated its outperform rating on Reliance Industries (RIL), setting a target price of ₹1,650, which implies a 30% potential upside from the current market price (CMP) of ₹1,269.50. The stock is currently within 5% of its conservative valuation, and CLSA believes there are several triggers that could drive growth in 2025.
One key catalyst highlighted by CLSA is the soon-to-be-launched Solar PV Gigafactory, which the market may be undervaluing. Using peer valuation metrics, CLSA values RIL’s solar business at approximately $30 billion and its overall new energy segment at around $43 billion. These developments are expected to contribute significantly to Reliance Industries’ future growth trajectory.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult a financial advisor before making any investment decisions.
