Bernstein: Bernstein raises RIL’s goal to strengthen in all areas

[ad_1] Mumbai: Bernstein has raised its target price on the oil-to-telecom group from ₹2,830 to ₹3,360, citing strength across all business segments. Shares of Industries closed 2% higher at Rs 2,579 on Wednesday. With supply crunch and low feedback prices, RIL’s refining margins may rise to a record high of $25.5 per barrel in FY22 as against $9.8 per barrel in FY22, foreign brokerages said. Bernstein said Reliance has also taken advantage of Russian crude, but that may not be a permanent factor due to increased scrutiny. While Reliance’s oil-to-chemical…