Stay updated with breaking news from Ril Q1. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Reliance share price: Reliance Industries reported a 10.8 per cent decline in net profit for Q1FY24, due to weak performance in its oil-to-chemical business. Shares of RIL are down about half-a-per cent for the year.
RIL Q1 Profit: JP Morgan says RIL’s operating income was steady and the stock now offers multiple potential catalysts. RIL reported a consolidated net profit of Rs 18,258 crore in the June quarter, down 5.9 percent from the year-ago period as muted performance in oil-to-chemicals partly offsets strong growth in consumer-facing businesses
We anticipate a long opportunity in Zomato. The stock has penetrated into stage 2 and has retested its support zone making it a potential pullback candidate. The stock has seen improving relative strength compared to Nifty and so we anticipate a potential ~11.6% upside for the target of 88.70 from the CMP.
The consumer facing businesses of India's largest firm reported strong set of numbers but legacy businesses faltered for another quarter.
The companys consolidated net profit for the quarter is likely to drop 10% year-on-year (YoY) to Rs 16,170 crore, according to the average of estimates given by 10 brokerages. Consolidated revenue is seen down 2% YoY at Rs 2.15 lakh crore.