Reliance Industries’ stock expected to soar with new clean energy business, says Bernstein
Indian conglomerate, Reliance Industries, could see a significant boost in its stock price as it gears up to enter the clean energy sector. According to Wall Street research firm, Bernstein, Mukesh Ambani-led Reliance Industries could see its stock rise by 21% from its current levels. The company’s market cap is already over INR 17 trillion, making it the biggest company in India in terms of value.
Bernstein notes that the decarbonization of the world is the biggest challenge today, and significant investment is expected in this area over the next 30 years. India is expected to invest $2 trillion in green energy by 2050, and Reliance could tap into this market with its new energy business. The total addressable market for Reliance’s new energy business could reach $200 billion by 2050.
Reliance aims to install 100 GW of solar capacity by 2030, which will account for 35% of India’s total capacity. India has set a target of 280 GW of total capacity by 2030. Bernstein predicts that by 2030, Reliance could have a 60% share in solar, 30% in battery, and 20% in hydrogen TAM.
Reliance’s balance sheet is strong, and it is well-positioned to make capital expenditures in its new energy business. Funding is not expected to be an issue for the company. With these factors in mind, Bernstein believes that Reliance could become a new cash cow for investors in the coming years.
In summary:
– Reliance Industries’ stock could rise by 21% with its new clean energy business, says Bernstein
– India is expected to invest $2 trillion in green energy by 2050, and Reliance could tap into this market
– Reliance aims to install 100 GW of solar capacity by 2030, which will account for 35% of India’s total capacity
– Reliance’s balance sheet is strong, and it is well-positioned to make capital expenditures in its new energy business.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
