Reliance Industries Shares Fall After Q1 Results
Reliance Industries' share price fell 2.4% to Rs 1,440 apiece on Monday morning after the company announced its quarterly performance on Friday, after market hours.
Reliance Industries Ltd. share price declined during early trade on Monday, which was the first trading session since the June quarter results were released last week.
The quarter showed positive momentum in telecom operations offset slower-than-forecast retail revenue and a gradual recovery in the oil-to-chemical business.
The Mukesh Ambani-led company reported a 39% sequential rise in consolidated net profit to Rs 26,994 crore for the June quarter, driven by a one-time gain from the sale of listed investments.
Revenue slipped 7% to Rs 2.43 lakh crore. Margin expanded 80 basis points to 17.6%.
Analysts remain bullish on the company. Jefferies said Reliance Industries is positioned for improved profit growth this year and in fiscal 2027.
Read RIL Q1 Result Highlights.
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RIL Share Price Movement
Reliance Industries' share price fell 2.4% to Rs 1,440 apiece.
Reliance Industries' share price fell 2.4% to Rs 1,440 apiece. The benchmark NSE Nifty 50 was flat. The relative strength index was at 39.
The stock has risen 2.4% in the last 12 months and 20.5% on a year-to-date basis.
Out of the 37 analysts tracking RIL, 34 have a 'buy' rating on the stock, one recommends a 'hold', and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets of Rs 1,611 implies a potential upside of 9%.
