Reliance Industries may reverse feeble stock showing on strong outlook

Major rerating, however, will depend on multiple triggers playing out

Reliance Industries
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Ram Prasad Sahu
A strong performance in the October-December quarter (third quarter, or Q3) of 2021-22 (FY22), improving outlook across verticals, and marginal upward revision of estimates are expected to support the stock price of Reliance Industries (RIL).

The country’s most valued company beat Street estimates on the operating profit front, aided by retail, oil-to-chemicals (O2C), and upstream segments in Q3. The metric at just under Rs 30,000 crore was up 14 per cent sequentially and beat consensus estimates by over 4 per cent. This performance could get better. 

Says Pinakin Parekh of JPMorgan, “Given the continued strength in refining, higher gas prices, and telecommunication

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First Published: Jan 23 2022 | 10:56 PM IST

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