Shares of Reliance Industries (RIL) edged higher in Friday's trade ahead of the oil-to-telecom major's March quarter results where the Mukesh Ambani-led company is expected to log a flattish profit.
Ahead of March quarter results, the stock was commanding an average price target of Rs 2,891, as per Trendlyne, which suggested a 23 per cent potential upside ahead. On Friday, the scrip traded at Rs 2,350.60 a piece, up 0.21 per cent.
RIL may log 1.3 per cent YoY rise in profit at Rs 16,455 crore, said Kotak Institutional Equities. This brokerage forecast revenue for RIL at Rs 2,26,872 crore, up 9.4 per cent.
Nuvama Institutional Equities sees RIL profit at Rs 16,464 crore up 1.6 per cent YoY. The domestic brokerage expects sales falling 3.3 per cent to Rs 2,00,454 crore.
Sharekhan estimated Reliance's consolidated profit at Rs 16,960 crore, up 4.7 per cent. The domestic brokerage said sales for the oil-to-telecom major may jump 3.1 per cent to Rs 2,13,734 crore. Operating profit margin is seen at 16.9 per cent, up 176 basis points YoY, the brokerage aded.
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"We expect RIL’s consolidated Ebidta to increase to Rs 37,800 crore, up 20 per cent YoY. Oil-to-chemicals (O2C) Ebitda oer tonne of crude processed is estimated to increase by 4 per cent QoQ, owing to an improvement in petroleum product cracks and an improvement in petchem margins QoQ. We expect
Ebitda to increase 14 per cent YoY to Rs 4,210 crore from its retail segment. We have estimated 50 lakh subscriber addition and ARPU of Rs 179 in Q4," said HDFC Institutional Equities.
Ahead of its quaterly JM Financial said it has a target of Rs 2,900 on the stock, as it expects earnings per share for RIL to grow at a strong 13-15 per cent CAGR over the next 3-5 years, given industry leading capabilities across businesses.
Nomura India, which has a target of Rs 2,850 on the stock, said RIL's retail business may log a gross revenue of Rs 70,710 crore, up 22 per cent YoY and Ebit margin of 6.9 per cent. For RJio business, it is pegging revenue at Rs 23,430 crore, up 12 per cent YoY. The foreign brokerage sees Ebitda rising 17 per cent YoY to Rs 12,340 crore and profit to come in at Rs 4,690 crore. It is pegging average revenue per user at Rs 179 against Rs 168 YoY. It sees subscriber base at 43.9 crore against 41 crore, up 7 per cent YoY.
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