Solar a Jio moment for Mukesh Ambani? Reliance shares get highest target price from Nuvama
Betting that the production of solar modules could trigger a re-rating similar to what occurred in 2017 after the launch of Reliance Jio, domestic brokerage firm Nuvama has issued the highest target price of Rs 1,801 for Reliance Industries (RIL).
At its recent analyst meet, RIL announced the start of its first line of HJT module manufacturing facility with a capacity of 1 GW, which can be scaled up in phases to a fully integrated 10 GW by early CY26.
Nuvama’s channel checks with key industry participants reveal that RIL has offered to sell its HJT modules in the lucrative domestic market, as the rollout of its power generation business is still some time away.
“RIL’s modules business (20 GW capacity) yields an EV of $20 billion,…
