Higher LNG & US ethane prices may cut into feedstock and weak rupee may lift EPS QoQ but not as much as street estimates, says Jefferies.
Moneycontrol News
@moneycontrolcom
Jefferies has reiterated its underperform rating on Reliance Industries on rich valuations, and keep target at Rs 880 per share.
Petchem EBIT surprised positively in Q1 but momentum waned, while margin in other products has eased, said Jefferies.
Higher LNG & US ethane prices may cut into feedstock and weak rupee may lift EPS QoQ but not as much as street estimates, it added.
At 14:48 hrs Reliance Industries was quoting at Rs 1,246.50, down Rs 10.65, or 0.85 percent.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.First Published on Sep 11, 2018 02:52 pm