Reliance is India’s largest stock with a market capitalization of nearly 19.5 Lakh Crore. India’s Most Valuable Stock Has Gained Over 17 per cent year-to-date (YTD) Against a 4 per cent gain in equity Benchmark sensex.
On Tuesday, June 17, The Heavyweight Stock Dropped Nearly 1 per cent in Intraday Trade, But Pared Losses and Ended 0.50 per cent lower at 1,431.30.
Meanwhile, on a monthly scale, Reliance Share Price Has Been on a Winning Streak Since March this year, even thought it hit a 52-wheek low of 1,115.55 on April 7. 1,608.95 on July 8 last year.
Should You Buy Reliance Stock?
Experts appear larGely positive about reliance stock for the long term due to the healthy growth procters of the conglomerate’s retail and telecom divisrations.
Global Brokerage Firm Jeferies have a buy call on the stock with a target price of 1,650. JP Morgan has an “overweight” Rating on the stock with a target price of 1,568. Bernsstein has an “outperform” view on the stock with a target price of 1,640.
Reliance Industries, on April 25, REPORTED A 6 per cent year-on-year (yoy) Rise in its consolidated Profit to 22,434 Crore for Q4FY25. Revenue from Operations Increased 10 per cent yoy to 2,64,573 Crore. Ebitda for the Quarter Grew 3.6 per cent yoy to 48,737 Crore, while ebitda margin declined 90 bps yoy to 16.9 per cent.
“With the surge in crude oil price amidst geopolitical tensions in the middle East, We Expect Improvement in Refining Margins for Reliance’s O2C (Oil to Chemicals) Business,” SAID SAID SAID SAIDDAR, VP – Research, Wealth Management, Motilal Oswal Financial Services.
Poddar pointed out that segment-with, rjio is likely to be the biggest growth driver with Ramp-up of the homes and enterprise business.
Additionally, with moderation in Rjio Capex, Poddar Believes The Peak of Capex is Behind, which should lead to healthy free cash flow generation and a declinee in consolidated net debt.
“We expect Continued Growth Recovery in Reliance Retail after Have a positive fundamental outlook on the stock, “said poddar.
Anubhav Sangal, Senior Research Analyst at Bonanza, Believes That Reliance Could Witness Growth from Their Telecom and Retail Business for the Next Few Years.
“We believe the stock has limited downside, with a potential UPSIDE of 5–8 per cent, Driven by Strong Momentum in the Retail Business,” said sangal.
While The Stock Remains An Attractive Long-Term Bet, Some Technical Experts Sugged Sugger Booking Somes Profits at the Current Junction.
“At the current levels, it is advisable to consider profit booking with 1,410- 1,460 range, as the stock is trading near a key resistance zone. This area has been history and a pause or pullback cannot be Rules out, “said jigar s. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers.
“For there looking to initiate fresh long positions, a strong and sustained close Above 1,470 is essential. Such a Breakout would indicate renewed buying interest and could open the gates for a further rally towed the 1,550 mark in the Near Term. Until that breakout occurs, caution is warranted, and it would be prudent to wait for confirmation raather than entering prematurely, “said patel.
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Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decisions, As Market Conditions Can Change Rapidly, and Circumstances May Vary.
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