Breaking News: RIL Q4 Results Out!Reliance share price sees strong support at ₹2,870 apiece level Experts predict a bullish trend with RIL share price poised to hit new highs at ₹3,000 and ₹3,200 per share levels.
Reliance Industries Ltd (RIL) shares are holding steady as investors eagerly anticipate the Q4 results for 2024. Today, the stock opened strong at ₹2,644.90 on the NSE, quickly surging to an intraday high of ₹2,949.70 before experiencing profit-booking pressure.
The share price retraced to an intraday low of ₹2,935.60 before recovering to trade at ₹2,946. With all eyes on the upcoming results, the market remains dynamic and engaging around RIL shares.
Exciting day ahead for investors as Reliance Industries Limited (RIL) gears up to unveil its Q4 results today! Market experts are anticipating a stellar performance, thanks to the resurgence in its core oil-to-chemicals business. Projections indicate a substantial surge in earnings in the OTC segment, boosted by improved GRMs, better petchem, and increased refining throughput.
In light of these promising developments, experts are tipping RIL as a ‘stock to buy today,’ suggesting that once the share price breaches the ₹3,000 mark and holds above it on a closing basis, we could see the stock soaring to the ₹3,200 apiece level. Get ready for potential gains as RIL prepares to shine in today’s trading session.
Reliance Q4 2024 Expectations:
Anticipated Robust Performance Leading market analysts, including Amit Goel of Pace 360, forecast a strong quarter for Reliance Industries Ltd in 2024.
Key drivers include:
Core Business Resurgence: A rebound in the oil-to-chemicals segment.
Sustained Growth: Continued success in telecom and retail operations.
Projected Revenue Growth: Expected to soar by 11.4% to ₹2.36 lakh crore.
Financial Highlights:
According to Pace 360’s analysis:- EBITDA to surge by 9.4% to ₹42,052 crore.- Despite this, net profit may dip by 5.7% to ₹18,200 crore due to increased depreciation and tax rates.
Exciting times ahead for Reliance as it navigates through a dynamic market landscape and strives for continued success in its diversified portfolio.
Reliance Industries, according to Shreyansh Shah, Research Analyst at StoxBox, is set to witness a positive trajectory in its operational performance for Q4FY24.The anticipated improvement will primarily be spearheaded by the O2C segment, fueled by enhanced refining margins. However, Shah notes that net profit growth might only see a slight single-digit rise annually, owing to increased depreciation.
In the upcoming quarter, StoxBox predicts a moderation in capex, particularly in digital services due to lower demands. Conversely, investments towards petrochemical expansion are expected to soar. As per the expert, Reliance is poised for a significant boost in its O2C segment earnings sequentially, driven by better GRMs, improved petchem performance, and increased refining throughput.
“Jio poised for steady growth, Reliance Retail shines bright!
According to the StoxBox expert, Reliance Industries is gearing up for a robust performance in Q4FY24. With an anticipated stable showing from Jio and a resilient profitability from the retail segment, the future looks promising.
The increase in store count, higher footfalls in Reliance Retail, improved ARPU, a growing subscriber base in Jio, and enhanced performance in petrochemicals are set to drive the company’s success.Get ready for an exciting journey with Reliance Industries.
Exciting Investment Opportunity: Reliance Industries Limited
Key Insights from Sumeet Bagadia of Choice Broking:
Potential Price Surge: Reliance share price expected to soar post-Reliance Q4 2024 results announcement.
Current Base: Strong base noted at ₹2,870 per share level.
Stop Loss: Recommended to maintain a strict stop loss at ₹2,870 per share level.
Price Targets:
- Initial Target: ₹3,000 per share post-Q4 results.
- Breakout Target: ₹3,200 per share level on sustaining above ₹3,000.
Advice for Fresh Investors:
- Current Market Price: Buy at current market price.
- Near-Term Targets: Aim for ₹3,000 and ₹3,200 per share levels.
- Stop Loss Update: Upgrading to ₹2,940 post-closing breakout above ₹3,000.
A potential profitable opportunity awaits in Reliance shares. Buy now, set your targets, and ride the upward trajectory with confidence!
Reliance Industries Q4 2024 Results Announcement:
Date: April 22, 2024
Time: To be determined
🔹Reliance Industries, led by Mukesh Ambani, has scheduled the announcement of its Q4 results for 2024 on April 22, 2024.
🔹The Board of Directors meeting, set for April 22, will discuss and approve the standalone and consolidated audited financial results for the quarter and year ended March 31, 2024.
🔹 Important News: The board will also review and recommend dividends on equity shares for the financial year ended March 31, 2024.Stay tuned for the latest updates and insights on Reliance Industries’ financial performance!