Buy Reliance Industries, target price Rs 2620: Nuvama Wealth
Reliance Industries with a target price of Rs 2620. The current market price of Reliance Industries is Rs 2464.15.
Nuvama Wealth brokerage recommended to keep stop loss at Rs 2365.
Reliance Industries, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1668860.79 Crore) operating in Diversified sector.
Reliance Industries key Products/Revenue Segments include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others and Income from Retailing for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 211372.00 Crore, down -2.08 % from last quarter Total Income of Rs 215863.00 Crore and down -4.59 % from last year same quarter Total Income of Rs 221551.00 Crore. Company has reported net profit after tax of Rs 18182.00 Crore in latest quarter.
Investment Rationale
Weekly high closing marks the confirmation of a swing breakout with higher volumes.
Promoter/FII Holdings Promoters held 50.39 per cent stake in the company as of 30-Jun-2023, while FIIs owned 22.55 per cent, DIIs 16.05 per cent.
