The first quarter results are in today: Reliance Industries Ltd., or RIL, a major player on Dalal Street, will release its Q1 2024 results. In one of its most recent exchange filings, RIL provided information regarding the same. Thus, it is anticipated that investors in the Indian stock market would not pay much attention to the Reliance share price during the Friday session. Experts in the stock market predict that Reliance’s first-quarter results for the current fiscal year could be inconsistent. They also projected that the business might offer a higher figure each year. They did note, though, that the company’s profits might decline gradually.
2024 preview of Reliance Q1 results
“Reliance Industries Ltd. is anticipated to present a mixed set of figures for Q1FY25, potentially reflecting an annual increase in revenue,” commented Prathamesh Masdekar, Research Analyst at StoxBox, regarding Reliance’s A1FY25 results. However, operating profit and margin may decrease sequentially. Lower refining margins and a slowdown in the retail sector are the key reasons behind the anticipated muted operating performance of the company.
Higher depreciation may also reduce the annual growth of net profit to a low single digit. Even though Petchem’s pricing, margins, and capacity utilization are all improving, Reliance’s OTC segment earnings are expected to drop precipitously as a result of the sequential fall in GRMs. While the retail segment’s earnings should be modest, Jio is anticipated to perform steadily. The StoxBox expert stated that Reliance Industries’ performance in Q1FY25 will be influenced by factors such as expanding its store presence, operating leverage in Reliance Retail, Jio’s acquisition of net customers, and improved Petchem pricing.
The target price of Reliance shares
Sumeet Bagadia, Executive Director of Choice Broking, said on the forecast for the price of Reliance shares: “Until it trades above ₹3100, Reliance shares will remain strong and an excellent buy-on-dips stock.” Therefore, investors who would like to add RIL shares to their portfolio might purchase Reliance shares at the current market price with a stop loss of ₹3100 and a short-term objective of ₹3250. Likewise, it is recommended that RIL stockholders hold onto the scrip with a stop loss set at ₹3100 a share.”
