Best Long Term Stocks, India: Reliance Industries Overview
Reliance Industries Limited (RELI.NS) is an India-based company which operates in the Oil to Chemicals (02C), Oil and Gas, Retail, Digital Services, and Financial Services segments and is one of the best shares to buy for long term.
Reliance Industries Limited (RELI.NS) is an India-based company which operates in the Oil to Chemicals (02C), Oil and Gas, Retail, Digital Services, and Financial Services segments and is one of the best shares to buy for long term. Reliance Industries Ltd. has achieved a return on equity, ROE, of 8.12% and earnings per share of 98.58 over the trailing twelve months.
The Indian government recently met Reliance Industries, along with other large global firms such as Foxconn (2354.TW), Samsung Electronics (005930.KS) in order to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme. The meeting, addressed by India's Trade Minister Piyush Goyal on Tuesday, June 27, came amid concerns that some businesses were facing delays in availing the incentives from New Delhi amid complicated accounting procedures.
Motilal Oswal Financial Services, a leading Indian brokerage firm, recently issued a recommendation for Reliance Industries Ltd. saying the stock has a potential upside of 10.7%, with a target price of ₹2800. At the time of the recommendation, the stock was priced at ₹2515.0, and the current price stands at ₹2529.35.
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