In a recent analysis, leading brokerage firm Goldman Sachs has predicted a potential upside of as much as 54% for shares of Reliance Industries (RIL), led by billionaire tycoon Mukesh Ambani. This optimistic outlook is based on Goldman Sachs’ bull case scenario estimates for the financial year 2026, projecting RIL’s share price to reach Rs4,495.
Goldman Sachs has maintained its “buy” recommendation on Reliance Industries, revising its price target on the stock to Rs 3,400 from Rs 2,925 previously. This revised target suggests a substantial upside of 17% from the closing price recorded on Tuesday.
The brokerage firm remains bullish on RIL’s risk-reward profile, citing favorable factors such as the expected value accretion from the Reliance-Disney joint venture.
Baron Capital marks Swiggy’s valuation at 14.7 billion Info Edge reports Q1 profit at Rs 232.90 cr, posts strong cash generation on sustained billings growth in non-recruitment businesses Zomato zooms 16% after multi-fold jump in profit; brokerages give a thumbs up India’s manufacturing PMI drops to 58.1 in July on lower order, sharp rise in input costs
Also Read
What are the key levels to watch for as rupee hits fresh all time lows
Additionally, Goldman Sachs anticipates RIL’s consolidated returns to be at an inflection point in the financial year 2024, with its Cash Return on Cash Invested (CROCI) forecasted to expand by nearly 270 basis points to 12% by the financial year 2027, marking the highest level since 2011.
Over the last decade, Reliance Industries has allocated over $125 billion in capital expenditures, predominantly in hydrocarbon and telecom sectors. However, Goldman Sachs highlights a shift in RIL’s investment focus towards less capital-intensive ventures such as Retail and New Energy, which offer higher returns and shorter gestation periods.
Goldman Sachs projects significant growth in Reliance Retail’s Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA), nearly doubling between financial year 2024 and 2027, with a corresponding increase in its share of consolidated EBITDA. Similarly, the brokerage expects positive EBITDA contributions from the New Energy vertical to commence by financial year 2025, reaching $2.3 billion by financial year 2030.
Also Read
Hinduja Group starts rebranding Reliance Capital, operating units
Analyzing RIL’s consolidated performance, Goldman Sachs foresees a turnaround in free cash flow by financial year 2025, as capital expenditure is expected to peak in the preceding financial year. Furthermore, the brokerage anticipates a 20% year-on-year expansion in EBITDA, driven by various factors including a telecom tariff hike, higher retail same-store sales growth, and improved chemical margins.
Goldman Sachs forecasts a robust EBITDA Compound Annual Growth Rate (CAGR) of 17% between financial year 2024 and 2027, propelled by the doubling of Retail EBITDA and a 22% CAGR in the telecom business. Key drivers include higher telecom Average Revenue Per User (ARPU), smartphone adoption, fixed broadband traction, petrochemical margin recovery, and operational expenditure reduction.
The brokerage notes that Reliance Industries’ shares historically outperform the Indian market during periods of expanding returns and valuation discovery through stake sales in newer businesses. With expectations of rising returns and potential value unlock through listings of consumer businesses, Goldman Sachs predicts a positive trajectory for RIL’s shares in the foreseeable future.
Related Posts
โทนี่ โครส อดีตมิดฟิลด์ทีมชาติเยอรมนีเปิดเผยผ่าน Einfach Mal Luppen รายการพ็อดแคสท์ของตนเองโดยกล่าวยกย่อง จามาล มูเซียล่า และ โฟลเรียน เวิร์ตซ์ สองแข้งอายุน้อยของ บาเยิร์น มิวนิค และ เลเวอร์คูเซ่น จะเป็นกุญแจสู่ความสำเร็จในอนาคตของทัพอินทรีเหล็ก
เยอรมนี ค้นหานักเตะระดับสตาร์มาเป็นเวลานานแล้วและตอนนี้มีผู้เล่นสายเลือดใหม่พรสวรรค์สูงก้าวขึ้นมาพร้อมก…
อาซูลกราน่า เปิดบ้านชนะ เคตาเฟ่ 1-0 ในศึก ลา ลีกา เมื่อคืนวันพุธที่ผ่านมา ส่งผลให้ บาร์ซ่า รักษาสถิติชนะในลีก 7 นัดรวด ยังคงนำจ่าฝูงต่อไปตามเดิม
“หลังจากโดนไล่ออก (ในเกม แชมเปี้บนส์ ลีก ที่ บาร์ซ่า บุกแพ้ โมนาโก) ซึ่งเป็นจังหวะที่โชคร้าย การได้ลงเล่นและช่วยให้ทีมรักษาระดับผลงาน แถมคว้าชัยมาครอง มันเป็นเรื่องที่ดีกับผมเป็นอย่างมาก
“พวกเรารู้ว�…
The day of the DLC is finally upon us, but before players jump into Elden Ring Shadow of the Erdtree, some are debating whether they have what it takes to face off against all its new foes.
Those trying to dunk on Mohg, aside from speedrunners or benevolent sorcerers, should be around level 100-120. Elden Ring has been around for over two years now, though, and some players are realising that they may be a little too prepared for the fight ahead.
PC Gamer editor Fraser Brown even went into the DLC with his overpowered NG+ Blasphemous Blade build and found it to be a piece of cake. But after opting for a fresh start, Shadow of the Erdtree started to hit him just right.
For those looking for that sweet spot, studio director Hidetaka Miyazaki suggests that it’s difficult to overprepare. “We’ve kind of really pushed the envelope in terms of what we think can be withstood by the player,” Miyazaki says in an interview with CNET.
It doesn’t seem…
Companions are a defining feature of BioWare’s RPGs. The band of NPC followers who join your party in games like Baldur’s Gate and Dragon Age weren’t just a collection of yes-elves who quietly went along with every decision you made. They pushed back and disagreed, and would sometimes leave to go do their own thing. Each of those companions had a distinct personality and voice. That’s why there’s still no better argument-starter among BioWare’s players than asking who the best and worst BioWare companions are. (Jacob defense squad, represent.)
And so, when a group of veteran RPG designers came together for a recent GDC roundtable hosted by PC Gamer, the question of how the writers managed their casts came up. Obsidian’s Josh Sawyer took the opportunity to ask Mike Laidlaw, “At BioWare, was there a standard method for the development of the cast of companions and individual companions?”
Laidlaw was former creative director of the Dragon Age series, as well as being …
The maker of the viral hit survival game Lethal Company says a mobile version of the game that’s set to launch on the App Store later this month is “not real,” and you probably shouldn’t download it.
The demand for a mobile version of Lethal Company is understandable. The game made a big splash when it debuted in October 2023 and it still has a large audience on Steam, where more than 58,000 people are currently playing it. And the listing for it on the App Store looks legit: It’s pretty much a direct lift of the Steam page, including screenshots and a word-for-word duplication of the game’s description.
But, sorry, it’s fake.
“The mobile version of Lethal Company was made with no explicit permission and is most likely a scam of some sort,” a moderator on the Lethal Company Discord said in response to an inquiry about the game.
The mod also asked users not to post links to the mobile game in Discord: “We are pretty aware of this already and don’t want m…
If you’re lucky enough to own a Steam Deck, there’s a fair chance you’ve had someone mistake it for the similarly built Nintendo Switch. They share form factors with the middle screen and side mounted controls, and the Switch is by far the more common portable gaming partner. Plus, it has those iconic Joy Cons, especially if you went with the famous neon red and blue colour scheme.
Whether you’re wanting to lean into the joke or are looking to have a stealthy Switch-themed Steam deck, Dbrand has brought the goods. Spotted by The Verge, you can now grab a fully themed Nintendo Switch skin or protective case for your Steam Deck.
The skin is a fairly complete new wrap for your Steam Deck. It colours the left and right portions of the controls to match the traditional Joy Con design while still working with the Steam Deck’s shapes. The back even has a very blurry logo that looks a lot like the Nintendo Switch on the back.
It’s one of those things you look at and …
A million here, times a million there. Pretty soon you’re talking about big numbers. So Nvidia claims for its AI accelerating hardware in terms of the performance boost it has delivered over the last decade and will deliver again over the next 10 years.
The result, if Nvidia is correct, will be a new industry of AI factories across the world and gigantic breakthroughs in AI processing power. It also means, ostensibly, AI models one million times more powerful than existing examples, including ChatGPT, in AI processing terms at least.
In Nvidia’s earnings call yesterday, CEO Jensen Huang claimed that Nvidia’s GPUs had boosted AI processing performance by a factor of no less than one million in the last 10 years.
“Moore’s Law, in its best days, would have delivered 100x in a decade,” Huang explained. “By coming up with new processors, new systems, new interconnects, new frameworks and algorithms and working with data scientists, AI researchers on new models, acr…
Friends, the prophets spoke true. Mere hours after rumours began to spread that Rockstar was gearing up for an official Grand Theft Auto 6 announcement ahead of a proper trailer in December, Rockstar has gone and made an official GTA 6 announcement ahead of a proper trailer in December.
In a post on the Rockstar blog marking the studio’s 25th anniversary, company president Sam Houser announced that “in early December, we will release the first trailer for the next Grand Theft Auto,” before letting us know that the studio looks forward to “many more years of sharing these experiences with you.”
And, well, that’s it. No, really. The post announcing the reveal for perhaps one of the most massively hyped games of this decade and the previous one consisted of zero images and 142 words on a black background, almost 12 years to the day after the original 2011 announcement for GTA 5. It’s a level of cocky corporate nonchalance that Rockstar is very good at, even if the stylish m…
RuneScape has announced that it’s ditching its new battle pass system barely a month after it debuted, calling it “not reflective of a direction we’re taking RuneScape in” following widespread player uproar.
The battle pass—called a Hero Pass in RuneScape terminology—arrived on September 4, promising players a gamut of buffs, cosmetics, and special missions. It was immediately despised by the game’s wider community, so much so that RuneScape developer Jagex had to walk huge swathes of it back only four days after launch, announcing that it would patch out some of the system’s most loathed pay-to-win elements in advance of “a longer period of community consultation and re-development”.
That consultation took the form of a survey sent out to players, and the results are in: The Hero Pass isn’t long for this world. On October 6, two days before the survey was due to actually reach its conclusion, Jagex decided it had seen enough. “We will not be releasing anothe…
Sometimes, when I sit down to spend some time with a new game for a quick and simple ‘hey, this thing exists’ news story, I do so with the understanding that I’ll be playing a game—or a demo, as is the case here—and evaluating its strengths, its weaknesses, and its promises. Taking a critical and analytical eye, figuring out whether to recommend the thing I’m trying.
I have not been critical or analytical while trying out Athenian Rhapsody. Instead, I have taken a volume of mental damage that has left me certain I won’t be able to stand the full game—like how you might get motion sickness in VR. You, however, might have an utter blast.
Athenian Rhapsody’s Steam page advertises it as a “a souls-like platonic dating simulator with cooking-mama and WarioWare style battle mechanics”, though clarifies: “and by that I mean it’s a choose-your-own-adventure action RPG with the ability to trade ENTIRE PLAYTHROUGHS between friends!”
The way I would describe…