The company's market valuation expanded by nearly Rs 1.2 lakh crore after consolidated net profit surged 41% to Rs 25,548 crore alongside a 29% rise in quarterly revenue. Although recent financial reports triggered post-earnings selloffs in three of the last five instances, strong oil-to-chemicals performance helped quarterly EBITDA beat analyst expectations by 9%. This surge marks the equity's highest trading level since late September, lifting monthly gains to 7%.
Key points
Jefferies maintained a Buy rating with a target price of Rs 1,710 based on expected retai…: Jefferies maintained a Buy rating with a target price of Rs 1,710 based on expected retail growth and upcoming earnings upgrades.
Nomura retained its Buy recommendation with a Rs 1,560 price target after consolidated EB…: Nomura retained its Buy recommendation with a Rs 1,560 price target after consolidated EBITDA beat its forecast by 9%.
The upward momentum reversed a slide that previously drove the stock down to a 52-week lo…: The upward momentum reversed a slide that previously drove the stock down to a 52-week low of Rs 1,152 earlier in the month.
Sources checked by our analysis pipeline: 1
Reliance Industries’ sharp gains added nearly Rs 1.2 lakh crore to the total market capitalisation of India’s most valuable company, pushing it closer to Rs 17 lakh crore. The company's shares jumped to Rs 1,252 apiece on NSE, the highest level seen by the stock since late September this year.
This comes after the oil-to-chemicals conglomerate reported a 41% year-on-year (YoY) rise in consolidated net profit to Rs 25,548 crore in the July-September quarter of FY27, compared with Rs 18,165 crore in the year-ago period. Its revenue from operations meanwhile increased 29% YoY to Rs 3.32 lakh crore during the quarter under review, up from Rs 2.58 lakh crore in the corresponding quarter of the previous financial year.
International brokerages including Jefferies, Nomura and others maintained their ‘Buy’ ratings on the shares of Reliance Industries following the earnings print. Jefferies has a target price of Rs 1,710 apiece, implying an upside potential of 47%. It raised the company’s FY27 and FY28 EBITDA estimates by 6% and 2%, respectively, and sees earnings upgrades and a recovery in retail growth to the…
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