Bernstein: Bernstein raises RIL’s goal to strengthen in all areas

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Mumbai: Bernstein has raised its target price on the oil-to-telecom group from ₹2,830 to ₹3,360, citing strength across all business segments. Shares of Industries closed 2% higher at Rs 2,579 on Wednesday.

With supply crunch and low feedback prices, RIL’s refining margins may rise to a record high of $25.5 per barrel in FY22 as against $9.8 per barrel in FY22, foreign brokerages said. Bernstein said Reliance has also taken advantage of Russian crude, but that may not be a permanent factor due to increased scrutiny.

While Reliance’s oil-to-chemical business could deliver record earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 84,500 crore – 25% higher than the consensus estimate, telecom arm Jio is also expected to deliver strong results. ready for Because of the tariff hike, Bernstein said.



“The stage is set for more tariff hikes driven by a stable industry structure and government reforms,” ​​Bernstein said.

Reliance’s retail growth outlook has improved as the economy opens up to 104% of pre-Covid levels and with strong store additions, the report said.

Reliance Bharatagencies

The Mukesh Ambani-led company had reported a consolidated net profit of ₹16,203 crore for the March quarter, up 22.5% as compared to ₹13,227 crore in the same period last fiscal. Consolidated revenue grew by 36.8% to ₹2.1 lakh crore from a year ago level.

The company has also started implementing its succession plan with the handing over of the telecom business to the chairman’s son Akash Ambani. Mukesh Ambani, Isha Ambani May be appointed as the head of the retail arm of Reliance. Bernstein said Reliance’s retail revenue is likely to see growth of over 30%, driven by strong store additions and core retail EBITDA to remain stable at 10.5%.

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