Why Reliance Industries became the first Indian company to reach $100 billion annual revenue?

Reliance Industries, led by Mukesh Ambani, became the first Indian company to earn $100 billion in revenue in a single year.

 
Image source: Deshi companies 

Morgan Stanley has maintained its 'Overweight' rating on RIL following the company's major capital expenditure announcement at the AGM.

The most recent announcement has the potential to more than double RIL's profits by 2027.

 
Image source: invest yadnya

Reliance announced investments of Rs 2 lakh crore in a standalone 5G network, Rs 75,000 crore in expanding its O2C (Oil to chemicals) capacities across value chains, and Rs 75,000 crore in new energy.

According to Morgan Stanley, these new investments have a much better constructive setup and lower cyclicality than previous investments.

Morgan Stanley has set a price target of Rs 3,085 on the shares. Morgan Stanley's top pick is now Reliance.

CLSA has kept its BUY rating and a target price of Rs 3180. The launch of WhatsApp integration with Jio Mart, as well as greater clarity on succession planning, will help RIL gain investor trust.

According to Jefferies, the company has announced its entry into the FMCG business as well as a new phase of capex on new growth platforms. It has a 'BUY' call with a Rs 2,980 target price.
According to JP Morgan, the AGM returns the focus to earnings. The firm maintains an Overweight rating on Reliance shares, with a price target of Rs 3,065 per share.  

MITHILESH M.K.
GrowwAsset

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