Reliance Industries share price rises 2% after Q2 results 2023

The share price of RIL has risen to 2% after the announcement of Quarter 2 results. Even after the announcement of Quarter 2 results the top brokerages have remained positive on RIL stock. The share list of the company hit its fresh 52-week high of Rs. 2635.17 on 19th July 2023 and 52-week low of Rs. 2012.14 on 20th March 2023 on the Bombay Stock Exchange (BSE). On Monday, the RIL share price have been rose 2% in the early trade. It was boosted by RIL’s September quarter earnings. Now to learn everything regarding the share price of RIl and other details of the company, read this article till the end without missing anything.

Reliance Industries

Reliance Industries’ share price rose around 2% in the early trade on the Bombay Stock Exchange (BSE) on 30th October 2023, Monday. This has been raised after the release of Quarter 2 results. According to the source, the stock opened at Rs. 2283.95 against the last close of Rs. 2265.25 and it rose to 2% to the intraday high of Rs. 2310 in the trade. In the early trade on Monday at around 9:20 am the stock traded at 1.47% higher at Rs. 2298 at the Bombay Stock Exchange (BSE).  The shares of the company have been seen not interested in the last year as power the records.

The share price of Reliance has a fresh 52-week low of Rs 2012.14 on 29th March 2023, and 52 weeks high of Rs. 2635.17 on 19th July 2023. According to the last session closes the stock was down over 14% from the 52-week high level. On 27th October 2023, Friday, the company reported a 29.7% YoY rise in the September 2023 quarter which consolidated a net profit of Rs. 19878 crore. The EBITDA margin suddenly surged at 390 bps Year on Year to 17.5% and on the other hand, the Gross revenue little been got inches up, it inched up by 1.2% Year on Year to Rs. 255996 crore which is supported by consumer businesses.

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The brokerages are currently positive. Motilal Oswal Financial Services has bought the stock by setting a target price of Rs 2760. As it is using the SOTP the company values the petrochemical segment at 7.5 times FY25E EV.EBITDA which is going to arrive at the valuation of Rs. 878 per share for the standalone. Emkay Global Financial Services has claimed the buy call on RIL stock by setting a target price of Rs. 2730. And on the other hand the last brokerage, JM Financial has claimed that they have maintained a buy call on the stock by setting a target price of Rs. 2900.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging