Will RIL share cross the level of 1800? Nuwama expects heavy returns

Reliance Industries Share: Brokerage firm Nuwama Institutional Equalities has increased its target price to Rs 1,801 per share for Reliance Industries Limited (RIL). Brokerage has also rated its share ‘Buy’. With this, during the trading today, during the trading, Reliance shares jumped 1.9 percent to Rs 1,529. It is being told that Nuwama has placed a big bet on this only after Reliance was launched recently.

Reliance started HJT module manufacturing

Actually, Reliance has started manufacturing 1 GW (GW) HJT module. There is a plan to increase its capacity to 10 GW by 2026. This module is based on Hetrozing Technology (HJIT) and has an efficiency 23.1 percent, which is much higher than the common solar panels. It generates more units of electricity than other solar panels. This step taken by Reliance will help India achieve its goals of clean energy.

Why does Nuwama trust RIL?

Nuwama says that according to the channels in his industry, RIL is preparing to sell its HJT module in the domestic market as it may take some time to generate electricity.

According to the Economic Times report, Jal Irani and his team in Nuwama say that the rollout of Reliance’s new energy will not only increase the company’s PAT up to 50 percent, but by 2035, the O2C business will also be re-re-reconciled in view of the company’s net-gear carbon target by 2035. Reliance’s Oil to Chemicals is currently a huge source of its profit, which gives two-fiveth part of Ebitda and more than half of PAT.

All these things are also included in Reliance’s plan

Reliance is currently planning to set up 30 GWH battery facility, green hydrogen and electrolyzer manufacturing, and 55 CBG plants with this integrated solar facility. The company has a setup of 50 CBG plants.

Nuwama said in his note that keep an eye on the next AGM of the company to be held in August-September. We are increasing the SOTP -based target price to Rs 1,801 – which is the highest in the market. In view of the possibilities of the module’s profit being more than expected, we maintain the rating of our ‘Buy’ on RIL’s stock.

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