Goldman Sachs lowers target price of Reliance Industries’ stock, maintains ‘Buy’
Global brokerage Goldman Sachs on Thursday lowered its target price for Reliance Industries Ltd (RIL), while maintaining 'buy' rating for the diversified group.
Global brokerage Goldman Sachs on Thursday lowered its target price for Reliance Industries Ltd (RIL), while maintaining 'buy' rating for the diversified group.
Reliance Industries, ICICI Bank, State Bank of India, ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, and Infosys faced erosion from their market valuation.
Last week, nine of the top 10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation. Hindustan Unilever and Reliance Industries Limited took the biggest hit.
Reliance Industries Limited (RIL) reported quarterly consolidated revenue at Rs 2.58 lakh crore for Q2 FY25.
Revenue for Jio Platforms increased by 11.7 per cent Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU.
The market construct is favourable for consolidation around current levels and gradual up move, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
RIL's green hydrogen foray is part of its Net Carbon Zero target by 2035. Falling renewable cost and scale economics will lower green hydrogen cost. Given the capex intensity, RIL's strong balance sheet and backward integration puts it in the driver's seat in the US$ 74 billion opportunity, foreign brokerage, Jefferies said in a report.
Reliance Petroleum Retail Limited (under name change to 'Reliance Polyester Limited'), a wholly owned subsidiary of Reliance Industries Limited (RIL), on Saturday executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters Limited for cash consideration of Rs 1,522 crore.
Margin profiles for FMCG businesses are superior to that of grocery retailers with gross margins of 40-60 per cent and EBITDA margin of 15-25 per cent versus 15 per cent and 9 per cent, respectively, for DMart.
Drawn from existing standards, the Stakeholder Capitalism Metrics provide a set of metrics that can be reported on by all companies.
