HSBC and Edelweiss have retained a hold rating while Credit Suisse and JP Morgan have maintained neutral recommendations. CLSA has retained an outperform, Kotak Institutional Equities has an add rating, Jefferies has a buy recommendation and Elara...
By ET Bureau | Updated:
BCCL
HSBC said it continues to like RIL’s business and balance sheet but investors are now likely to watch out for a meaningful uptick in business performance.
Mumbai: Brokerages have a mixed view on Reliance Industries after the oil-to-telecom conglomerate posted a 7.25% fall in the June quarter profit.
Shares of RIL ended down 1.3% at ₹2,077.70 on Monday.
HSBC and Edelweiss have retained a hold rating while Credit Suisse and JP Morgan have maintained neutral recommendations. CLSA has retained an outperform, Kotak Institutional Equities has an add rating, Jefferies has a buy recommendation and Elara Securities have an accumulate rating.
CLSA said there is a near-term risk of earnings downgrades due to uncertainty over the timelines of the telecom tariff hike and a big rebound in the oil-to-chemicals margins but it has maintained an outperform stance due to the long-term e-commerce and technology opportunity that the stock offers.
HSBC said it continues to like RIL’s business and balance sheet but investors are now likely to watch out for a meaningful uptick in business performance.
