KR Choksey is bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 1442 in its research report dated May 02, 2018.
KR Choksey's research report on Reliance Industries
Reliance Industries Ltd (RIL) reported net profit of INR 94,590 mln (up 17.5% YoY and 0.1% QoQ). Under the refining segment, the GRM’s of $11/bbl were in-line with market expectations. It outperformed benchmark Singapore Complex margins by $4/bbl. Consolidated revenues for the quarter increased by 17.2% QoQ and 29.3% YoY to INR 12,01,430 mln for the quarter ending March as against INR 9,28,890 mln in year-ago period.
Outlook
We recommend BUY with the target price of INR 1,442/share based on SOTP methodology.
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