On November 2, reliance industries share price dropped by 3 per cent.
The one thing that bothers is that company was showing some strong signs of growth in the September quarter of 2020.
The company showed great signs of growth in all the sectors and departments in the September quarter.
Let’s see what the brokerages have to say:
1. Sharekhan: sharekhan estimated everything and said that balance sheet is good when it comes to earnings and profit.
2. Motilal Oswal: the further plans of reliance industries is expanding its Fuel Marketing business.
3. Citi: they have maintained a neutral rating of reliance industries and refining remains the weak spot.
Jio earnings were in-line, though churn rises and normalcy returning in retail business,
4. CLSA: CLSA has maintained a good profile of the company with a target at Rs 2,250.
The core PBT missed by 32% due to higher interest expenses.
The reduction in net debt was lower than our estimate. The using recent deals as a benchmark gives us a value close to its CMP, said CLSA.
The near-term upside is limited even as long-term prospects remain promising and good.
Check all the Recent News Updates and Share Market Updates