Reliance share price in focus after Q3 results 2024. Buy, sell, or hold?
Stock in focus: After the announcement of Reliance results for Q3FY24 on Friday, market observers and stock investors are expected to remain vigilant about the movement of Reliance shares on Saturday. The Sensex heavyweight on Friday reported an 11 per cent YoY rise in net profit during the October to December 2023 quarter. The energy-to-telecom conglomerate's gross revenue in the third quarter of the current fiscal rose 3.2 per cent YoY to ₹2,48,160 crore.
However, EBITDA saw a slight miss. According to stock market experts, Reliance's Q3 results in 2024 are in line with the market estimates and stock market investors can keep adding the stock on every bid dip in Reliance share price. However, after the announcement of Reliance results for Q3FY24, Reliance GDR price in the UK stock market ended 1.50% lower at $65.10 per share level.
During Saturday deals on Dalal Street, Reliance share price is trading flat today. Reliance share price today opened lower at ₹ 2,730 per share on the NSE and went on to touch an intraday low of ₹2,700 within few minutes of stock market's opening bell. Also Read: Day trading guide for stock market today: Six stocks to buy or sell on Saturday Decoding the Reliance Q3 results, Sabri Hazarika, Senior Research Analyst at Emkay Global Financial Services said, "RIL earnings during the October to December 2023 quarter is largely in line with expectations.
O2C EBITDA fell 14% QoQ to Rs140.6bn due to maintenance in multiple units combined with lower cracks & deltas; feedstock optimization and cheaper ethane supported, though. O2C feedstock/sales stood at 18.7mt/16.4mmt, down 7%/4% QoQ, while EBITDA/mt declined 8% to USD90. Upstream EBITDA rose 22% QoQ to Rs58bn as opex normalized QoQ, while KG Basin
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