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    Buy Reliance Industries, target price Rs 2250: Motilal Oswal

    Synopsis

    Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 820718.91 Crore) operating in Diversified sector.

    RIL
    Promoters held 49.2 per cent stake in the company as of June 30, 2020, while FIIs held 26.6 per cent, DIIs 13.5 per cent and public and others 10.8 per cent.
    Motilal Oswal has given buy rating to Reliance Industries with a target price of Rs 2250. The share price moved down by 1.97 per cent from its previous close of Rs 2108.65. The stock’s last traded price is Rs 2067.20.

    Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 820718.91 Crore) operating in Diversified sector.

    Financials
    For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 88253.00 Crore, down 35.22 % from last quarter Sales of Rs 136240.00 Crore and down 43.78 % from last year same quarter Sales of Rs 156976.00 Crore. The Company reported net profit after tax of Rs 12926.00 Crore in latest quarter.
    RIL-graph

    Investment Rationale
    Using SOTP, the brokerage values refining and petrochemical segment at 7.5x to arrive at a valuation of Rs 545/share for the standalone. It has ascribed an equity valuation of Rs 1,125/share to RJio and Rs 580/share to Reliance Retail. SO it reiterates Buy with target price of Rs 2,250/share.

    Promoter/FII Holdings
    Promoters held 49.2 per cent stake in the company as of June 30, 2020, while FIIs held 26.6 per cent, DIIs 13.5 per cent and public and others 10.8 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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