India’s biggest conglomerate Reliance Industries reported its earnings for the quarter ended March on Monday evening. Reactions to the results have been mixed and stock is currently trading in the red. However, the company has had a great year at the bourses.
The Investment: If you invested ₹10,000 in Reliance on April 24, 2023, when the stock was trading at around ₹2,170, you would have received around five shares of the company. Today the value of those five shares would be around ₹14,655.
Q4 Earnings: The conglomerate, led by Mukesh Ambani, saw a 1.8% YoY decrease in net profit for the March quarter at ₹18,951 crore compared to ₹19,299 crore last year. However, revenue from operations rose to ₹2.41 lakh crore from ₹2.16 lakh crore in FY23, and EBITDA increased by 14.3% YoY to ₹47,150 crore.
Here are the latest analyst ratings on the stock after Q4 results:
| Brokerage | Rating | Price Target (₹) |
|---|---|---|
| UBS | Buy | 3,420 |
| Jefferies | Buy | 3,380 |
| Morgan Stanley | Overweight | 3,046 |
| Bernstein | Outperform | 3,160 |
| CLSA | Outperform | 3,300 |
| Kotak Securities | Add | 3,200 |
Read Next: Tata Stock Rockets 20% After Revenue Jumps 343% In Q4
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