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Last Updated : Jan 18, 2019 04:03 PM IST | Source: Moneycontrol.com

Buy Reliance Industries; target of Rs 1465: Sharekhan

Sharekhan recommended is bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 1465 in its research report dated January 17, 2019.

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Sharekhan's research report on Reliance Industries


Reliance Industries (RIL)reports marginally higher-than-expected standalone operating profit led by slight beat in GRM while petchem EBIT margin was in-line with estimates. Reliance JIO reported 22% q-o-q growth in net profit. Retail business continues on a strong earnings trajectory. IMO regulations to boost refining margin although weakness in GRM is likely to persist in near term due to lower gasoline cracks.


Outlook


We expect high petchem margin will sustain on low feedstock cost. We maintain Buy rating on RIL with unchanged PT of Rs.1,465.


For all recommendations report, click here


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First Published on Jan 18, 2019 04:03 pm
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