InvestorQ : Is it true that Nomura has downgraded the stock of Reliance Industries?
NISHA Nayak made post

Is it true that Nomura has downgraded the stock of Reliance Industries?

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Priyanka N answered.
2 months ago
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That is absolutely correct. In a rather surprising move, an analyst at Nomura has downgraded Reliance Industries citing rich valuations. The stock has been in the midst of a dream run and this downgrade is likely to create some doubts in the minds of individual investors. However, institutional investors will still be driven by the momentum in the stock and the aggressive investments being made.

This downgrade is rather surprising considering that the quarterly results are expected on this Friday. Interestingly, this is the first time in many years that the specific analyst at Nomura has downgraded the RIL target. Nomura has no problem with the business model of Reliance, but just feels there is too much front in valuations. The Reliance stock has sharply rallied by more than 30% since the end of July.

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