Reliance shares: Experts see upside after Q2 results 2023

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Reliance shares: After announcement of Q2FY24 results on Friday evening, Indian stock market is expected to react to its quarterly numbers on Monday. According to stock market experts, Reliance Industries Q2 results for the financial year 2023-24 has come on the expected lines and hence some upside can be expected in Reliance share price on Monday.

RIL Q2 results: Reliance Industries reports net profit of ₹17,394 crore Stock market experts said that RIL has reported growth in all business segment and hence some buying interest in the stock is expected. They expected Reliance shares to touch ₹2,300 to ₹2,350 apiece levels in near term whereas its support placed at ₹2,210 per share levels may remain strong bounce back zone for the Sensex heavy weight.

Reliance Q2 Results: Healthy growth in profit, EBITDA; 5 key highlights Speaking on Reliance Q2FY24 results, Swarnendu Bhushan, Co Head of Research at Prabhudas Lilladher said, "RIL reported Q2 results with standalone EBITDA & PAT of ₹191.9 bn (10%Q/Q; PLe: ₹222.5bn) and ₹112.1bn (16%Q/Q; PLe: ₹141.9bn) ." Prabhudas Lilladher said that company's gas EBIDTA was at ₹48 billion, which is 18 per cent higher against its gas EBIDTA in Q1FY24." Reliance Retail Q2FY24 results: Net profit rises 21% to ₹2,790 crore Asked about Reliance results for the second quarter of current financial year, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "RIL results are in sycn with market expectations and rise in Gas EBIDTA has done the trick for oil major. In fact, most of the oil producing companies have reported better quarterly numbers due to margin benefit on their buffer stock after the recent rise in crude oil prices.