Reliance Share Price: RIL shares: Weak Q2 results make Motilal cut target price. Here’s what others said
Shares of India’s most valued company Reliance Industries (RIL) were trading around 1% lower this morning after the conglomerate’s Q2 results, which saw a 5% decline in attributable PAT, failed to enthuse brokerages.
Due to weak performance in O2C (oil to chemicals) business, RIL reported 5% decline in its consolidated net profit to Rs 16,563 crore for the quarter ended September.
While retaining a buy call, Motilal Oswal reduced target price on RIL to Rs 3,255 from Rs 3,410.
“We cut our FY25/FY26 consolidated EBITDA estimates by 1-2% and PAT estimates by 6%/3%, as we reduce our estimates for standalone earnings by ~8%, RJio earnings by 1-3% and Retail earnings by 2-10%,” Motilal said.
Jefferies, which has a target price of Rs 3,400 on the…
