FIIs see triggers weakening in RIL, stock at 19-month low
“Our conversations with investors highlight that the lack of catalysts on the stock is an increasing headwind for performance, especially as it remains a large FII stock, and which is a negative in the ongoing FII sell-off in India,” said JP Morgan’s analysts Pinakin Parekh and Sarfraz Bhimani in a client note last week. The brokerage, which has an overweight rating on Reliance, cut its price target to ₹2,960 from ₹3,015.
