Shares of Reliance Industries (RIL) are likely to remain in focus after Nuvama Institutional Equities maintained a ‘Buy’ rating on the stock with a target price of Rs 1,708 per share.
Nuvama highlighted that RIL’s Q4FY25 consolidated EBITDA of Rs 438 billion marked a 3% year-on-year growth and came in ahead of estimates, supported by continued strong performance across all key segments.
The brokerage further noted that the commissioning of Reliance’s Heterojunction Technology (HJT) module manufacturing facility is a positive development that could unlock significant opportunities in the New Energy business.
Reliance Industries reported strong Q4 results:
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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.
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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.
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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.
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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, Nuvama’s target price of Rs 1,708 implies a potential upside of about 31%.
Disclaimer: This article is for informational purposes only. Investors are advised to consult certified financial advisors before making any investment decisions.
