Reliance Industries (RIL) stock prices, who reported a series of healthy numbers for the December quarter, slipped into red after opening higher in the morning session on January 24 after weak market conditions.

Mukesh Mukesh Ambani-LED Reliance Industries reported Rs 20,539 Crore’s net profit in the third quarter of 2021-22, up 37.9 percent year-to-year because all vertical businesses see strong growth, oil-to-chemistry (O2C), telecommunications and retail conglomerates said on January 21.

The company’s net profit was driven by a one-time increase of RS 2,836 Crore from the sale of upstream gasoline assets in Eagleford in Texas, USA, which with the company came out of the Gas Shale game in North America.

Consolidated income for the most valuable companies in the country by market capitalization rose 52.2 percent yoy to Rs 209,823 Crore in the quarter. The company said that he set a record of revenue before interest, tax, depreciation and amortization (EBIDTA) led by O2C, oil and gas, retail and digital services.

Business Jio Platform reported gross income RS 24,176 Crore in the December quarter, up 13.8 percent after adjusting the cost of using interconnection (IUC).

RIL said that the addition of healthy customers was 34.6 million to a certain extent offered by Churn due to sim consolidation and repurposing customer retention.

At 10:39 a.m., the stock traded at Rs 2,449.85, down RS 28.25, or 1.14 percent, on the national stock exchange. It touches the highest intraday rs 2,504.10 and intraday low of Rs 2,443.20.

This is what the broker said about stock stock income

Morgan Stanley.

The company has maintained an overweight call on shares with targets at Rs 2,925 per share. “The company reported 5 percent beat on income driven by higher telecommunications, upstream Ebidta gas and retail margins. However, telecommunications customers are negative keys. The story of increasing overall income firmly in the game,” he said.

Jefferies.

The research company has maintained its purchase call in stock with a target at Rs 2,950 per share. The growth of the RIL 6 percent EBITDA is in front of estimates on a large fortification in the retail. Strong network expansion, increased income and increased profitability is the main spotlight.

Jio’s Churn customers are disappointment, but the performance of a strong margin is positively surprised. Purification remains firm, while Petchem has hit a soft patch on weak Chinese demand. Estimated 22 percent EPS is adjusted for FY22-24, he said.

CLSA.

The research company has maintained its outperform rating with targets at Rs 2,850 per share. Q3 Standalone EBITDA, EBIT and earnings are 3-6 percent faster than expected. Beat upstream beat is partly offset with a little miss in O2C. Higher retail profits pushed EBITDA / EBIT consolidated 6-7 percent attack. Brokerage companies have raised EPS estimates by 3-7 percent.

Macquarie.

The company has maintained poorly performing calls with targets at Rs 2,850 per share. Retail income momentum, enhanced E & P profits are positive things. Increased purification margins and low cost debt refinancing are the main positive things. Jio Subscriber Churn, low tax rates, disposal gains one is negative. This raises FY22-24 EPS forecasts by 1-2 percent margin higher energy division.