RIL shares fall after soft Q2 results; here are stock price targets
Reliance Industries Ltd (RIL) saw its shares falling nearly 1 per cent in Tuesday’s trade, as investors digest the second straight quarter of soft results. The standalone RIL numbers were hit by weaker refining and petchem spreads. The revenue print for Reliance Retail was weak, but margin improved. In the case of RJio, the tariff hike flow-through was offset by higher subscriber churn. As a result, a couple of brokerages cut their target prices on the stock.
MOFSL said RJio will be the biggest driver of Ebitda growth over FY24-27, driven by more frequent tariff hikes, market share gains in wireless, and the ramp-up of its Homes and Enterprise business. It sees growth recovery in Reliance Retail after the recent rationalisation of…
