Reliance Industries ltd. current issue impact was temporary and has become neutralized. Reliance has already been corrected and may be bottoming out today itself.
We observe opportunity in the stock at current value of INR 1243.60. This issue was related to Reliance Petroleum (around 10 years back) and the same merged in Reliance Industries Ltd (NS:RELI). The company is proceeding to challenge the decision. The amount of fine is not more if compared with company turnover and profits.
The recent growth and profit will give speed to Reliance Industries Ltd. because if added Reliance JIO sales and earnings during March 2017 and during FY 2017-18; estimating probability to get yearly sale of INR 36000/- 45000/- from Reliance JIO.
Reliance Industries ltd. trend looks positive and Reliance is currently trading at price of INR 1243.60/- on 28/03/2017, which is very attractive after current issue. Its future is bright.
Reliance JIO recently launched new schemes i.e. paid prime membership (INR 99/-) for existing clients before 31st March 2017.
The company is requesting Prime members to start purchase of its monthly plan (INR 303/-) in advance within March 2017 which will reflect in high earning of Reliance Industries Ltd (NS:RELI).The same will be very positive for last quarter result of March 2017 and it will be declared during April 2017.
Similarly first quarter result of July 2017 will also be excellent. The forthcoming quarter results of the company will also be better because of its growth and further addition of new customers during FY 2017-2018.
Reliance JIO hits 100mn customer base, says Mukesh Ambani PRESS TRUST OF INDIA, 16 FEBRUARY 2017
Estimated price during April 2017 around INR 1355/- and during July 2017 because of high earning looks around INR 1469.
FY 2017-2018 price looks around 1600/-.
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