November 21, 2017 / 5:56 AM / a year ago

BUZZ-India's Reliance Industries gains; Goldman Sachs raises PT

** Oil-to-telecoms conglomerate Reliance Industries shares rise as much as 2 pct to 939.65 rupees, highest in over two weeks

** Goldman Sachs raises price target by 26 pct to 1,205 rupees and adds stock to conviction list

** GS analysts expect company’s EBITDA to double over next three years; says RELI “provides best large-cap downstream energy exposure in Asia”

** Improving quarterly earnings trends and upward revision of consensus expectations are catalysts for stock performance - GS analysts

** Company posted 7.3 pct rise in Q2 standalone profit to 82.65 bln rupees ($1.27 bln), its highest profit ever

** Of 38 brokerages covering the stock, 25 rate “buy” or higher, nine “hold” and four “sell”; their median PT is 942 rupees

** Up to Monday’s close, stock had risen 70 pct this year ($1 = 65.0200 Indian rupees)

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