Jefferies has increased its target price for Reliance Industries Limited (RIL) to Rs 3580, maintaining a “Buy” recommendation. This follows Jio’s decision to raise tariffs by 13-25%. Jefferies expects RIL to deliver a revenue and profit after tax (PAT) compound annual growth rate (CAGR) of 18% and 26% respectively over the FY24-27E period.
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