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.
Naveen Kulkarni of Axis Securities PMS says Jio s earnings look good overall, with a slight beat in the O2C business and strong subscriber additions. However, the ARPU number was slightly lower than expected, indicating a need for tariff hikes to improve average revenue per user. The timing of such hikes remains uncertain. In terms of stock expectations, there is a significant upgrade in Jio s earnings, but it is difficult to determine the impact on the market in the short term.
Reliance Q3 Results Live Updates: Reliance Industries Ltd (RIL) reported a consolidated net profit of Rs 19,878 crore in the second quarter of the financial year 2023-24, an increase of 29.7 percent from a year ago, despite a dip in revenue from its oil-to-chemicals business. Despite a decline in revenue from its oil-to-chemicals business, the robust performance of its retail, Jio, and upstream businesses drove the profit growth.