Mukesh Ambani: Reliance’s stock will now become a rocket! Price can go up to Rs 3,000, Mukesh Ambani made a solid plan – reliance industries share could upto rs 3000
Jio’s new plan is 30 percent cheaper than other companies. The company has launched this plan at a time when the telecom sector is under pressure and investors are expecting a hike in tariffs. Market experts say that this move of Reliance may delay the tariff hike and this may increase the risk for Airtel investors. Bharti Airtel’s stock has fallen eight per cent in the last three months. Even today, it declined by 2.5 per cent during trading. It finally closed at Rs 756.40, down two per cent.
Where can the stock reach
Kotak analysts Aditya Bansal and Anil Sharma said the success of Jio prepaid is not being replicated in postpaid. But the new family postpaid plan is very attractive and may start price competition in the prepaid mobile world. A few days ago Sunil Mittal, Chairman of Bharti Enterprises, had said that the tariff may be hiked in the middle of this year. Airtel has been heavily infused with capital to strengthen its balance sheet, but the return on capital is very low in the industry, he added. This needs to change.
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However, analysts say that Jio will not show much aggressiveness in tariffs in the prepaid data segment as it is the market leader there. Kotak has given a target price of Rs 3000 on Reliance stock. On Wednesday, it closed at Rs 2236.85, down 1.74 per cent. Kotak has given a target price of Rs 875 on Airtel. Interestingly, most of the brokers have Buy rating on Airtel. 25 out of 30 analysts recommend it to investors to buy. Its 52-week high of Rs 877.10 was touched on November 25 last year.
