Buy Reliance Industries, target price Rs 2650: IIFL

IIFL has buy call on Reliance Industries with a target price of Rs 2650. The current market price of Reliance Industries is Rs 2520.6. Time period given by analyst is Intra Day when Reliance Industries Ltd. price can reach defined target. .

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1705768.70 Crore) operating in Diversified sector.

Reliance Industries Ltd. key Products/Revenue Segments include Petrochemicals, Income From Financial Services, Other Services, Oil & Gas, Others and Income from Retailing for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 178328.00 Crore, up 20.01 % from last quarter Total Income of Rs 148591.00 Crore and up 48.06 % from last year same quarter Total Income of Rs 120444.00 Crore. Company reported net profit after tax of Rs 15440.00 Crore in latest quarter.

Investment Rationale
Inverse head and shoulder formation seen in hourly chart.

Promoter/FII Holdings
Promoters held 50.61 per cent stake in the company as of 08-Dec-2021, while FIIs owned 27.68 per cent, DIIs 10.93 per cent.