Deven Choksey sets Rs 1,800 target on Reliance, sees scope for an upgrade

What happened

Deven Choksey, managing director of DRChoksey Finserv, set a target of Rs 1,800 per Reliance Industries share, implying about 55% upside from Friday’s close. He cited strong diesel refining margins and the value of Reliance’s stake in listed Jio Platforms, and said he may raise his target.

Confirmed

Global impact / market context

If refining margins stay strong, Reliance’s oil-to-chemicals business could earn more from turning crude into products, supporting company performance. Choksey’s possible target increase also depends on whether this operating strength continues, so investors should distinguish his forecast from a confirmed change in earnings.

Analyst inference

The article links Reliance’s September-quarter strength to lower-cost Venezuelan crude and exports of refined products to Western and African markets, which Choksey says lifted gross refining margins—the difference between product revenue and crude costs. He expects this advantage to continue in the December quarter.

Confirmed

What to watch

1. Check whether Reliance reports that diesel refining margins and its oil-to-chemicals performance remain strong in the December quarter, as Choksey expects. Analyst inference
2. Watch for any announced revision to Choksey’s Rs 1,800 target; he said he may raise it, but no increase is confirmed in the article. Proposed
3. Track whether Reliance continues buying Venezuelan crude at lower costs and exporting refined products to Western and African markets, the combination cited for stronger refining margins. Analyst inference

Evidence

• Original source link unavailable