New Delhi [India], August 1 (ANI): Bernstein Research has given Reliance Industries Ltd an "outperform" rating and said it sees a potential upside of 19 per cent in the conglomerate's share prices.

A report put out by the research firm Tuesday pegged the target share price of the Mukesh Ambani-led firm at Rs 3,000 as against the current market price of little over Rs 2,500.

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“Reliance is on the path of unlocking across business segments, evident from the recent IPO of Jio Financial Services (JFS), buyout of minorities/potential investors in Reliance Retail and the stabilizing of Telecom capex,” according to the report.

“We are OP (outperform) on Reliance, 19 per cent upside potential,” it said.

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Value unlocking by Reliance across business segments, the report said, has repositioned the company to focus on four key growth pillars -- expansion of oil-to-chemicals business into downstream chemicals with investments by strategic partners; building Reliance Retail stores in thousands and scaling omnichannel; the telecom segment is expanding with 5G rollout; and the company continues to scale up in new energy by accelerating investments. (ANI)

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