has add call on Reliance Industries with a target price of Rs 2755. The current market price of is Rs 2600.8. Time period given by analyst is one year when . price can reach defined target.
Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1757128.65 Crore) operating in Diversified sector.
Reliance Industries Ltd. key Products/Revenue Segments include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others and Income from Retailing for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 225360.00 Crore, up 5.14 % from last quarter Total Income of Rs 214344.00 Crore and up 51.66 % from last year same quarter Total Income of Rs 148591.00 Crore. Company reported net profit after tax of Rs 19508.00 Crore in latest quarter.
Investment Rationale
The brokerage makes minor reductions to FY23-24E EPS by ~1% and TP by ~2% to factor higher capex and hence, higher depreciation costs and higher interest costs. It remains cautious on upsides with concerns on low return ratios, muted FCF yields and limited potential for any return of cash to shareholders keeping risk-reward balanced. Reiterate ADD.
Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1757128.65 Crore) operating in Diversified sector.
Reliance Industries Ltd. key Products/Revenue Segments include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others and Income from Retailing for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 225360.00 Crore, up 5.14 % from last quarter Total Income of Rs 214344.00 Crore and up 51.66 % from last year same quarter Total Income of Rs 148591.00 Crore. Company reported net profit after tax of Rs 19508.00 Crore in latest quarter.
Investment Rationale
The brokerage makes minor reductions to FY23-24E EPS by ~1% and TP by ~2% to factor higher capex and hence, higher depreciation costs and higher interest costs. It remains cautious on upsides with concerns on low return ratios, muted FCF yields and limited potential for any return of cash to shareholders keeping risk-reward balanced. Reiterate ADD.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Experience Your Economic Times Newspaper, The Digital Way!
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by