Five reasons why analysts are raising target price on Reliance Industries
After touching new high of Rs 872 per share on September 20, RILs share price has given nearly 7% return in just one week. Analysts are optimistic over the stock due various reasons.
Key Highlights:
- RIL's share price gained by nearly 7% in two weeks
- Analysts have raised target price of RIL
- Analysts believe TRAI's cut in IUC will be most beneficial for RJio
The Telecom Regulatory Authority of India (TRAI), on September 19, decreased the interconnect usage charges (IUC) from 14 paisa per minutes to 6 paisa per minute with effect from October 1, 2017. This would be further reduced to zero from January 01, 2020.
Following this, the share price of RIL jumped to a new high of Rs 872-per piece on September 20, 2017. With this performance, RIL gave nearly 7% return since the time it started trading ex-bonus on September 07, 2017.
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