 "Reliance Industries")
JP Morgan has upgraded its stance on Reliance Industries Limited (RIL) to overweight from neutral and sees the stock at Rs 3,170 levels in a year – up 21 per cent from the current levels. RIL, according to the brokerage, is among the few large companies in India with a positive earnings revision cycle ahead, given the strong refining and gas environment.
ALSO READ: Reliance on top after Viacom's media rights purchase in IPL e-auction
ALSO READ: Reliance on top after Viacom's media rights purchase in IPL e-auction
"Our upgrade to overweight is driven by: a) global view of a strong refining environment though we build in a decline in product
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