This is what analysts make of Reliance Industries post Q1

Moneycontrol Bureau

Reliance Industries (RIL) shares fell around two percent in morning trade despite it reporting 19 percent YoY jump in June quarter profit on higher refining margins and also due to treasury related gains. However, analysts on an average believe RIL has a stable outlook on earnings front. Read This:Rupee fall aided Reliance Ind Q1 results: Quant Capital Few assumptions of analysts that will drive RIL's valuation
Gas price hike, as suggested by the Rangarajan Committee will not only improve  realizations but will also accelerate upstream activities
RIL will manage to arrest production decline from its D1/D3 and MA fields as it as got approval for the same. The firm has already started technical analysts for arresting decline.
Gross refining margins (GRMs) are likely to be stable at around USD9/bbl for the year
A weak rupee with push up EBIT further from current levels. This is what brokerages think of RIL's stock performance
Antique broking has maintained a 'hold' rating on the stock with a target of Rs 916 as RIL expects to commission the petcoke gasification unit by end of CY15 which would result in incremental integrated Jamnagar margins by FY17.
CLSA has maintained an "outperform” with a target at Rs. 1,000. “Weak petrochemical was offset by higher treasury income, it said.
Bank of America Merill Lynch is neutral with a target of Rs 940 on modest growth expectation in FY14.
Post Q1 numbers announcement, Gagan Dixit of Quant Capital had told CNBC-TV18: I believe RIL stock is not impacted by earnings, but is most driven by how things pan out for RIL in its various businesses, "There are many other things that are beyond the company's hold including gross refining margins which the market has already factored in. At this level, if things remain stable then I will buy RIL for long-term," he had further said.