Mukesh Ambani-led Reliance Industries’ share price has underperformed the benchmark indices so far this month, falling more than 8%. The fall in the stock price has largely come owing to fears emerging after the government of India decided to levy a Special Additional Export duty on exports of petrol, diesel and ATF. Analysts at HDFC Securities believe the concerns are overdone and have reiterated their ‘Add’ rating on the stock. The brokerage firm is expecting a recovery in the O2C businesses along with improvement in ARPU, subscriber addition, and new revenue streams. HDFC Securities has a target price of Rs …
