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Brokerages raise targets on RIL stock post Q4; check latest prices here

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

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Tanmay Tiwary New Delhi
Shares of Mukesh Ambani-owned Reliance Industries Limited (RIL) rose nearly 1 per cent on Tuesday, hitting an intraday high of Rs 2,986.05 per share, after most brokerages reacted positively to the company's March quarter (Q4FY24) results.

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical.

"We raise FY25-26E earnings by 2-5 per cent each and increase target price to Rs 3,200 per share on the back of higher profitability in Jio (due to ARPUs) and roll-over to March-26 estimate. RIL is well-placed

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First Published: Apr 23 2024 | 10:50 AM IST

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