Reliance share price trades flat. Should you buy RIL shares ahead of Q4 results 2024?

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Reliance share price: Shares of Reliance Industries Ltd (RIL) are trading flat ahead of the announcement of Q4 results 2024. RIL share price today opened with an upside gap at ₹2,644.90 apiece on NSE and went on to touch an intraday high of ₹2,949.70 per share mark within a few minutes of the stock market's opening bell.

However, profit-booking soon triggered and the Sensex heavyweight retraced from its intraday high and touched an intraday low of ₹2,935.60 per share. Reliance shares are currently trading at ₹2,946 apiece on NSE.

According to stock market experts, Reliance Q4 results are coming today and the market is expecting a robust Q4FY24 number from the Indian major as the company is expected to benefit from the recovery in its core oil-to-chemicals business. They went on to add that RIL is likely to see a sharp jump in its OTC segment earnings sequentially with an improvement in GRMs, better petchem, and higher refining throughout.

Giving a 'stock to buy today' tag ahead of the Q4 results today, experts said that the stock may go up to ₹3,200 apiece level once the RIL share price breaks above ₹3,000 apiece level on a closing basis. Expecting a 'robust' Reliance Q4 results in 2024, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "Reliance Industries Ltd is set to report robust quarterly earnings, driven by a recovery in its core oil-to-chemicals business and sustained momentum across the company’s consumer-facing telecom and retail businesses.

Revenue is expected to increase by 11.4 percent to ₹2.36 lakh crore from a year earlier to ₹2.12 lakh crore. EBITDA to rise 9.4 percent to ₹42,052 crore from ₹38,440, underpinned by robust growth in the O2C business." The Pace 360 expert went on to add