Shares of Reliance Industries (RIL) are expected to stay in focus after Nomura maintained a ‘Buy’ rating on the stock and raised the target price to Rs 1,650 per share.

Nomura highlighted that Reliance Industries delivered robust results across all segments. The brokerage pointed out three key near-term triggers for the stock:

  1. Scale-up of the new energy business

  2. Upcoming tariff hikes for Jio

  3. Potential IPO or listing for Jio, which could unlock significant value for the company

Reliance Industries reported strong Q4 results:

  • Consolidated net profit stood at Rs 19,407 crore compared to Rs 18,540 crore in the previous quarter and Rs 18,951 crore a year ago.

  • Consolidated revenue was reported at Rs 2.61 lakh crore, up from Rs 2.40 lakh crore sequentially and Rs 2.36 lakh crore year-on-year.

  • Consolidated EBITDA came in at Rs 43,832 crore versus Rs 43,789 crore in the previous quarter and Rs 42,516 crore in the year-ago period.

  • Consolidated EBITDA margin stood at 16.8%, compared to 18.25% quarter-on-quarter and 18% year-on-year.

At the current market price of Rs 1,301.00 per share, Nomura’s revised target price of Rs 1,650 implies a potential upside of about 27%.

Disclaimer: This article is for informational purposes only. Investors are advised to consult certified financial advisors before making any investment decisions.

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