New Delhi [India], May 17 (ANI): Brokerage Berstein on Wednesday assigned “Outperform” rating on Reliance Industries (RIL) and noted Rs 3,2100 as price target for the company.
Accordingly, the brokerage also said Reliance Jio under Jio Platforms, one of the subsidiaries of RIL, is the undisputed scale player in Indian telecom sector since its launch in September 2016, acquiring over 100 million customers in less than a year.
It said Reliance Jio is on the path to 500 million subscribers. As the subscriber base approaches 500 million (currently it is 433 million) and market share reaches 50 per cent, the brokerage had studied the evolving market structure with the viability of “Vodafone Idea under question”, price repair and potential IPO plans.
The brokerage cited four reasons – on the basis of market structure, pricing repair, revival of Vodafone-Idea remains challenging and Jio…
