Investors who are already invested in RIL may remain long on the stock; but, as the view remain mixed, they should avoid fresh longs, suggest experts.
Brokerage firms remain mixed on Reliance Industries after March quarter results as CLSA, Nomura maintained their buy rating whereas Kotak Institutional Equities maintained 'sell' while IDBI Capital downgraded the stock to hold.
Investors who are already invested in RIL may remain long on the stock as some brokerage remains confident of a strong rally of over 10 percent in the next 12 months.
CLSA has the most aggressive target price on RIL at Rs 1,665 for next month which translates into an upside of 20 percent from April 18 close.
However, as the view remain mixed, investors should avoid fresh longs, suggest experts.
Reliance Industries, India's largest company by market capitalisation, reported a 9.8 percent YoY growth in fourth quarter consolidated net profit to Rs 10,362 crore. This was driven by a 19.4 percent increase in quarterly revenue to Rs 1.54 lakh crore.
The company attributed the robust revenue performance to strong growth in its retail and digital services businesses that grew 51.6 percent and 61.6 percent, respectively. Higher petrochemical volumes also contributed to growth in revenue, the company said.
The company's board has recommended a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended March 31, 2019.
The company's Q4 gross refining margin (GRM) came in at $8.2/bbl against $8.8 a barrel reported in the December quarter of FY19 and $11/bbl in Q4FY18.
To get profitable financial guidance, give one missed call on 9644405057. We offer 2 days of free trial. Our packages are affordable. Click here to visit our website: Option Trading Tips
No comments:
Post a Comment