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Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) have delivered flat returns for investors this year. RIL shares have gained a marginal 0.66% on a year-to-date (YTD) basis against a healthy 10.35% returns by Sensex in 2023. In the current session, RIL stock was trading flat at Rs 2393.25 against the previous close of Rs 2376.40 on BSE. The stock fell to its 52-week low of Rs 2012.14 on March 20, 2023 and hit a 52 week high of Rs 2635.17 on July 19, 2023.
At the current level, the Reliance Industries stock has lost 9% from its 52-week high.
RIL stock has fallen 4.81% in a year. It has logged a maximum decline of 10.18% in the last three months. It has seen very low volatility in one year with a beta of 0.1.
The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 56. Reliance Industries shares are trading lower than the 100 day, 150 day and 200 day moving averages but higher than the 5 day, 10 day, 20 day, 30 day and 50 day moving averages.
Reliance Industries stock touched an intraday low of Rs 2380 on Friday. Market cap of Reliance Industries stood at Rs 16.19 lakh crore on BSE. Total 26.99 lakh shares of the firm changed hands amounting to a turnover of Rs 644.53 crore on BSE.
At the current level, the Reliance Industries stock has lost 9% from its 52-week high.
RIL stock has fallen 4.81% in a year. It has logged a maximum decline of 10.18% in the last three months. It has seen very low volatility in one year with a beta of 0.1.
The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 56. Reliance Industries shares are trading lower than the 100 day, 150 day and 200 day moving averages but higher than the 5 day, 10 day, 20 day, 30 day and 50 day moving averages.
Reliance Industries stock touched an intraday low of Rs 2380 on Friday. Market cap of Reliance Industries stood at Rs 16.19 lakh crore on BSE. Total 26.99 lakh shares of the firm changed hands amounting to a turnover of Rs 644.53 crore on BSE.
Vaibhav Kaushik, Research Analyst, GCL Broking said, “Reliance is trading above all averages. So it looks good until it is above Rs 2320. Buy on dips is advisable for a target of Rs 2570.”
Abhijeet from Tips2trades said, “Reliance Industries looks bearish with immediate resistance at Rs 2412 on the Daily charts. A daily close below support of Rs 2375 could lead to a target of Rs 2280 in the near term.”
On October 27, the conglomerate announced its September quarter results.
Reliance Industries reported a 29.7% rise in consolidated net profit to Rs 19,878 crore in Q2 from a year ago, despite a dip in revenue from its oil-to-chemicals business. Revenue from operations rose to Rs 2.55 lakh crore for the quarter ended September 30 compared to Rs 2.52 lakh crore last year.
Prabhudas Lilladher maintained its buy rating with a target price of Rs 2618, based on SoTP valuing the standalone business at 7.5 times FY26 EV/EBITDA), Jio at 15 times FY26 EV/EBITDA and retail at 37times FY26 EV/EBITDA.
Nuvama Institutional Equities reduced its target price by 4% to Rs 2,950 and FY24/25E EBITDA by 3% post Q2 earnings.
“Net debt dipped Rs 8,000 crore to Rs 1.2 lakh crore from March led by an Rs 15300 crore capital-raise from stake sale in retail ventures. We reiterate long-term ‘golden refining era’ thesis. New energy shall unleash the next leg of growth opportunity,” said the brokerage.
Kotak Institutional Equities assigned a target price for the stock at Rs 2,725.
“With rising subscriber base and consumer engagement on 5G, this brokerage believes there is a case to raise tariffs soon. “Post 15 per cent decline since recent peak, risk-reward is now favourable. We upgrade RIL to BUY; revised fair value of Rs 2,725,” the brokerage said
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