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Reliance Share Price Target: Today the market is talking about Reliance and US President Donald Trump. On March 11, Trump made an announcement on the social media platform 'Truth Social', which caught the attention of the entire world. He told that Reliance is going to make a huge investment of $ 300 billion (about Rs 25 lakh crore) in America. Reliance Industries will build a new oil refinery in Texas. After such a big 'good news', it was expected that Reliance's stock would become a rocket, but today on Wednesday, Reliance's stock has become sluggish and is trading in the red with a slight decline. Let us know the latest price of the share and its new target...

Trump's claim and Reliance's 'silence'

In his post, Donald Trump described Ambani and Reliance as 'partners' and said that the first major refinery is going to open in Texas after 50 years. But the real problem here is that Reliance Industries (RIL) has not yet given any seal on this from its side. The stock exchange has not yet been given official information about any such big deal. Investors are nervous due to this 'suspense'. Until the company itself confirms this, the market is considering it as just a 'statement'. This is the reason why the stock did not see the rise that was expected today.

What is the real focus of Reliance?

On one hand, there is talk of a big deal in America, regarding which no statement has come from Reliance. Earlier on Tuesday, the company said that they are increasing the production of LPG in Jamnagar, so that the supply of gas remains in the homes of India. This shows that Reliance's entire focus is currently on the energy security of the country, which gives a stable confidence to investors.

reliance share price

Today, on Wednesday, March 11, a decline is being seen in the stock market. By 11 am, Sensex is down by more than 500 points and is trading around 77,700 and Nifty is trading down by 150 points at 24,100. Meanwhile, Reliance shares are trading around Rs 1,400 with a decline of 0.61%.

New target of Reliance shares

Even though the stock is a little soft today, big brokers are still focused on Reliance. Even before the news of this deal, brokerage firm Morgan Stanley has given overweight rating to this stock and given a target of Rs 1,803, which is about 28% more than the current rate. At the same time, JM Financial has also given a buy call on this stock and a target of Rs 1,730, which is an upside of about 23%.

Disclaimer : This article is for informational purposes only. This should not be taken as any kind of investment advice. Investing in the stock market is subject to risks. Before making any investment, definitely consult your financial advisor or market expert.

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