Brokerages reviewed Reliance Industries stock following its September quarter earnings on Friday which were broadly in line with their estimates. While Macquarie upgraded the stock from underperform to neutral , Jefferies raised the price target while recommending a buy. Others which reiterated their buy stance include Nomura, Motilal Oswal and Nuvama.
RIL Q2 results review: Morgan Stanley said RIL's Q2F24 Ebitda was a slight beat, 2 per cent above estimates, thanks to better-than-expected energy earnings and better revenue growth in retail.
RIL: Investors would be keenly watching any clarity on Rs 75,000 crore announcement in the new energy business, growth in retail store additions and any pricing action in telecom segment.
The companys shares have been trailing the countrys benchmark gauges this year, gaining only 0.9% year-to-date. A slide since late July was further accelerated amid a consolidation in local shares after the Sensex Index hit its all-time high earlier this month.
RIL: KKR’s follow-on investment in RRVL will translate into an additional equity stake of 0.25 per cent on a fully-diluted basis. This will take its total equity stake in RRVL to 1.42 per cent on a fully-diluted basis.