Morgan Stanley is bullish on RIL following earnings beat due to robust performance in gas production. The report highlighted RIL’s completion of the 5G rollout as a notable factor.
RIL s profit after tax stood at Rs 19,641 crore, surpassing D-Street expectations. Brokerages have mixed views, with Citigroup downgrading RIL but raising the target price. Sharekhan maintains a Buy rating, emphasizing strong long-term prospects. Emkay Global maintains its earnings outlook and raises the SOTP-based target price.
Nifty heavyweights like Reliance, HUL, and Ultratech will share their December quarter numbers today and these can influence the market direction, analysts say
RIL Q3 results: Nomura India said it sees O2C Ebitda of Rs 14,000 crore, down 14 per cent QoQ, underpinned by a decline in refining margins to $10 per barrel against $12 per barrel in Q2FY24 and the prevailing weakness in petchem.