JM Financial Recommends Buying Reliance Industries with a Target Price of Rs 2900

JM Financial has issued a “buy” call on Reliance Industries, setting a target price of Rs 2900. Currently, the market price of Reliance Industries is Rs 2307.05.

Reliance Industries Ltd., founded in the year 1973, is a large-cap company with a market capitalization of Rs 15,56,137.41 Crore, and it operates in the diversified sector.

Key Products/Revenue Segments for Reliance Industries Ltd. include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others, and Income from Retailing for the fiscal year ending on March 31, 2022.

In terms of financials, for the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 2,11,372.00 Crore. This represents a decrease of 2.08% from the total income of Rs 2,15,863.00 Crore in the previous quarter and a decrease of 4.59% from the total income of Rs 2,21,551.00 Crore in the same quarter of the previous year. The company reported a net profit after tax of Rs 18,182.00 Crore in the latest quarter.

As of June 30, 2023, the promoters held a 50.39% stake in the company, while foreign institutional investors (FIIs) owned 22.55%, and domestic institutional investors (DIIs) held 16.05%.

Investors may consider this “buy” call from JM Financial when evaluating their investment decisions. The target price of Rs 2900 suggests potential growth for Reliance Industries in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.

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