Reliance Industries shares have given a thumbs up to the Q3 earnings . The stock opened higher at Rs 1,322.25 per share, and soared by 4.7% to reach intra-day high of Rs 1,326 per share. Trading at Rs 1,266.45 the previous day, the stock is approximately 21.28% away from its 52-week high of Rs 1,608.80.
Moreover, most brokerages are positive about the company’s long-term growth potential. Firms like Axis Capital, UBS, and Nomura have maintained their Buy ratings on the stock, citing strong performance in retail, O2C, and Jio, with key growth drivers like 5G adoption, new energy ventures, and digital expansion.
Reliance Industries Q3 Earnings – Brokerage views
RIL Q3: Nomura cautious about valuation but holding on
Nomura also maintained its BUY rating, but lowered its SoTP-based target price to Rs 1,600 (down from Rs 1,725).
The firm adjusted its earnings expectations due to a reduction in core retail margins, driven by an increased share of grocery in the mix.
Also Read: Jio profit up 4.9% to Rs 6,861 crore; Arpu crosses Rs 200
RIL Q3: UBS says lower earnings outlook but ‘Buy’ rating intact
UBS revised its earnings expectations for FY25 – 27, lowering its forecasts by about 2%. This adjustment accounts for a slight decrease in retail margins, majorly due to an increased share of groceries in the mix, and a softening in the petro-chemical segment.
However, UBS remains bullish on RIL’s future, maintaining its BUY rating with a target price of Rs 1,550, citing future growth drivers like 5G, new energy, and home broadband. The brokerage also raised near-term capex estimates.
RIL Q3: HSBC Global Research has a ‘Hold’ rating with an eye on potential catalysts
HSBC Global Research has held a HOLD rating on RIL for over four years. The firm has been cautious due to the company’s expanded valuation multiples and a lack of clear catalysts. However, HSBC now sees signs of potential growth, particularly in the retail sector, where RIL is expected to optimise its portfolio and enhance grocery delivery services.
Moreover, the brokerage firm is optimistic about the company’s new energy business, with expectations of significant achievement in solar energy, hydrogen manufacturing, and sodium-ion cell production.
Also Read: RIL Q3 Results: 3 things to know about Q3FY25 earnings at this hour
The firm, further in its report added that the digital business of the company is poised for an acceleration in growth, specifically with the rollout for Air Fibre broadband, which will potentially increase ARPU as well creating new monetisation opportunities.
RIL Q3 earnings: Axis Capital – A reaffirmation with optimism
Axis Capital maintained a BUY rating for RIL, revising its target price (TP) to Rs 1,696. The brokerage pointed out that the positive Q3 results of the conglomerate were supported by retail and Jio’s continued momentum, as well as a strong performance from the O2C business.
The firm also expects future growth driven by key segments like 5G adoption and new energy ventures, making it optimistic about RIL’s long-term outlook.
Reliance Industries Q3 earnings highlights
Reliance Industries reported a 7% YoY increase in its consolidated net profit for the third quarter, reaching Rs 18,540 crore. Operational revenue also saw an increase of 6.7% YoY, reaching Rs 2.43 lakh crore. The results exceeded analyst estimates, with profit projections pegged at Rs 18,337 crore and revenue expected to reach Rs 2.39 lakh crore.