ril share price, job news! What is the future of reliance industries shares expert advice after quarterly results – what is the future of reliance industries shares expert advice after quarterly results
2855 target for the shares
According to brokerage house Motilal Oswal, shares of Reliance could rise by 15 percent from the current price. The brokerage has a buy recommendation on the stock with a target of Rs.2855. The current share price is Rs.2472. The brokerage house said Reliance’s revenue grew by 37 percent and 5 percent on a year-on-year and quarter-on-quarter basis, respectively. Which is better than expected. While EBITDA grew by 20 percent year-on-year. The margin has gone up to 13.6 percent.
Profits flat due to tax windfall
Excluding the impact of special excise duty, the company’s consolidated operating profit rose 27.8 percent year-on-year to Rs 38,702 crore in the second quarter, according to Reliance Industries. A windfall tax of Rs 4,039 crore had to be paid in the September quarter.
Reliance to commission new gas ‘condensate field’ by year-end
Reliance Industries Ltd. The MJ Gas Condensate (Liquid Hydrocarbon) field located in deep water in Block KG-D6 in the Bay of Bengal will become operational by the end of this year. This will increase the total natural gas production in the country by 30 percent.