Updated April 28th 2025, 12:14 IST
Reliance Industries Share Price: Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) surged nearly 4.5% on Monday after the company reported a 2.4% rise in its net profit for the March quarter.
The stock, which opened at Rs 1,332.35, touched a high of Rs 1,359.00 before closing higher, emerging as the biggest gainer among Sensex and Nifty firms.
The company’s strong performance is sparking optimism about the stock’s potential, with analysts wondering if Reliance could hit the Rs 2,000 mark in the next 12 months.
The firm’s March quarter results showed a consolidated net profit of Rs 19,407 crore, or Rs 14.34 per share, which was up from Rs 18,951 crore, or Rs 14 per share, in the same period last year.
The oil-to-telecom-and-retail conglomerate also achieved the significant milestone of becoming the first company to hit a net worth of over Rs 10 lakh crore in FY25.
This followed its achievement last year of being the first to reach a market cap of Rs 20 lakh crore.
Reliance's performance in Q4 FY25 was driven by its telecom and retail businesses, with Jio seeing a 2% EBITDA beat and adding 6.1 million subscribers during the quarter.
Additionally, the company’s retail segment reported a 16% YoY revenue growth, with a 14% increase in EBITDA.
This positive momentum in telecom and retail, along with improved margins in these sectors, helped offset the weakness in the oil and petrochemicals business, which saw lower fuel cracks and polyester chain margins.
Looking at the stock’s future prospects, analysts are optimistic. Nilesh Jain, Head of Derivatives and Technical Research at Centrum Broking, highlights that Reliance Industries has shown a clear breakout from a six-month consolidation phase, with the stock decisively moving above the crucial 200-day moving average at Rs 1,340.
Jain expects short-term targets of Rs 1,450 and sees long-term potential for the stock to reach a new record high, with targets of Rs 1,650 to Rs 1,700 over the next 8-12 months.
He suggests that investors should adopt a "buy on decline" strategy, with Rs 1,300 acting as important support.
Furthermore, Emkay has reiterated its ‘BUY’ rating for Reliance Industries, setting a target price of Rs 1,450.
Emkay points to the strong operational metrics in the company’s telecom and retail businesses, coupled with the promising outlook in its green energy segment, which is likely to play a significant role in Reliance’s future growth.
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Published April 28th 2025, 12:14 IST