Bro­ker­ages Give RIL a Thumbs Up

The Economic Times - - Companies: Pursuit Of Profit -

Bro­ker­ages gave a thumbs up to Re­liance In­dus­tries’ move to charge sub­scribers for Re­liance Jio In­fo­comm’s ser­vices. The de­ci­sion re­moves an over­hang on the stock which was im­pacted by the in­crease in cap­i­tal ex­pen­di­ture on Jio and lack of clar­ity on mon­eti­sa­tion of its ser­vices, they said. Most have main­tained their tar­get price on the stock. Shares of the en­er­gyto-tele­com con­glom­er­ate jumped to 1,212 dur­ing Wed­nes­day’s ses­sion — its high­est level in eight years, be­fore end­ing up 11% at 1,207.65. Bloomberg data showed 29 of the 39 an­a­lysts track­ing the stock have a ‘buy’ rat­ing on it, while the rest have a ‘hold’ rat­ing. — OUR BUREAU

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