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Reliance Industries on Boom

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RIL rallies over 2% post Q3 results; brokerages see up to 18% upside in 12 months

Reliance Industries Ltd (RIL) rose as much as 2.5 percent in morning trade on Monday, after the oil & gas major reported a consolidated profit growth of 16.2 percent QoQ (25.1 percent year-on-year) at Rs 9,423 crore for October-December quarter, driven by petrochemical and Jio businesses.
Consolidated revenue from
operations during the quarter grew 7.8 percent quarter-on-quarter (21.75 percent YoY) to
Rs 1,02,500 crore, aided by volume increase with the start-up of petrochemicals projects and increase in prices in refining and petrochemical businesses.
Most brokerages maintain their buy recommendation on the stock but raised their 12-month target prices to Rs1125 levels which translate into a rise of 18 percent from current levels.
CLSA: BUY| Target raised to Rs1125 from Rs1080
CLSA maintains a buy recommendation on RIL but raised a target price to Rs1125 from Rs1080 levels. The big beat was from Jio and the standalone EBIT while a stellar Q3 from retail boosted sentiment.
For Jio, it was a neat beat on the revenue and EBITDA front. The year 2018 may turn out to be the year of monetization, said the report. It further added that full utilisation of Off-Gas crackers, stabilisation of gasification project, ramp-up of JioPhone and start of broadband are key positives.
IDBI Capital: BUY| Raises target price to Rs1125 from Rs1004 earlier
IDBI Capital maintains a buy rating on RIL but raised its 12-months target price to Rs1125 from Rs1004 earlier. The Q3 result were better than expectation led by robust performance in petchem, retail, and Jio.
The Petchem profit drove the show while Jio continues to surprise positively, IDBI Capital said in a report. The Petcoke gasifiers are likely to start from Q4 and the overall outlook remains positive.
Motilal Oswal: BUY| Target Rs1069
Motilal Oswal maintains a buy rating on RIL with a 12-month target price of Rs1069. Petchem drives standalone profitability for RIL. RJio which turned profitable in FY18 is a big sentiment booster.
Lower throughput impacts refining performance but robust volume growth and healthy deltas drove profitability for the oil & gas major in the December quarter.
ARPUs to hover at Rs 144 in Q4 led by recent cut, said the Motilal Oswal report. The domestic brokerage firm expects competitive intensity to remain high over 2-3 quarters.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Source: Moneycontrol.com
Verdict:
Stay Invested in Reliance as Jio just started Making Profits.
Also a Up move for a target of  1000 and beyond can be seen soon.
For more investment tips contact:
Munshi's investment

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