Mukesh Ambani’s Reliance Industries Limited (RIL) is one of India’s largest conglomerates and is involved in a wide range of industries, including petrochemicals, refining, oil and gas exploration, telecommunications, and retail. The company has been performing well in recent years, and its stock has been receiving bullish ratings from stock analysts.
In fact, according to a Bloomberg report from January 2021, RIL’s stock had the highest number of buy ratings from analysts in seven years. This was due to the company’s strong financial performance, particularly in its digital services arm, Jio Platforms. In 2020, Jio Platforms raised over $20 billion in investments from various companies, including Facebook and Google, which helped to strengthen RIL’s balance sheet.
In addition to Jio Platforms, RIL’s other businesses have also been performing well. Its retail arm, Reliance Retail, has been rapidly expanding and has become one of India’s largest retailers, while its petrochemicals and refining businesses have benefited from low crude oil prices.
Overall, the bullish ratings for RIL’s stock reflect investors’ confidence in the company’s ability to continue to perform well in the future. However, as with any investment, there are risks involved, and investors should carefully consider their options before making any decisions.
