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Reliance underperforms Nifty 50 YTD: Equirus says catalysts for re-rating are emerging, upgrades stock to LONG

As reported by mint - markets
India's most valuable stock's valuation is at attractive levels, with forward P/E compressing to ~19x (versus average of ~21x) and EV/EBITDA at ~9.9x, even -1SD band, nearing multi-year trough levels of ~9.6x, the brokerage said.
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