Reliance’s share jumped 7% after the results, how far will the price go?

There is tremendous movement in the shares of Reliance Industries Limited (RIL), the biggest stock of the Indian stock market, after the quarterly results. Investors’ confidence in this stock has been strengthened again after the company’s financial and operational performance was better than expected. After the announcement of the results, there has been a huge jump in the shares of Reliance, due to which the faces of the investors of Dalal Street have blossomed. Market analysts believe that this Reliance stock can give even better returns to investors in the coming days, about which all the big brokerage houses are continuously looking positive.

Excellent quarterly results and strong business performance

According to the quarterly financial data released by Reliance Industries, the company’s consolidated revenue and profit have been better than market estimates. The company’s core businesses like Jio Platforms and retail sector (Reliance Retail) have registered strong growth, while the oil-to-chemical (O2C) segment has also seen significant growth for the company. Jio’s continuous growth in digital subscriber base and improvement in average revenue per user (ARPU) have led to a significant jump in the company’s margins. On the basis of these strong fundamentals, there has been a huge increase in the buying of Reliance shares in the stock market.

Brokerage firms’ reports and new target prices of shares

Leading global and domestic brokerage firms have maintained their positive opinion on Reliance Industries’ shares after its results. According to brokerage reports, this stock has the potential for investors to make further gains. Many major financial institutions have set the new target price of Reliance shares much higher:

• Goldman Sachs: Expressing great confidence in Reliance, this reputed firm has raised the target price of the share. ₹1,840 per share, which is significantly higher than current levels.

• Jefferies and JP Morgan: These global brokerage houses also advised ‘Buy’ on Reliance’s shares and increased its target price. ₹1,600 to ₹1,710 Is placed between.

• Nomura: Nomura also adopted a positive stance on the stock. ₹1,560 The target has been set.

Experts’ opinion: Should investors buy Reliance shares now?

Market experts say Reliance Industries’ diversified business model—which includes telecom, retail, green energy, and traditional oil and gas refining—makes it one of the safest and strongest investment options even during recession or market volatility. However, short-term traders are advised to build their positions keeping in mind the technical movements and support levels of the market. For long-term investors, this stock can prove to be a great option to strengthen the portfolio.