FrontPage is India's Stock Market Social Network
Join 50,000+ Traders and Investors
forum

RELIANCE Share Price Target

Reliance Industries Ltd.
NSE: RELIANCE | BSE: 500325 | ISIN: INE002A01018 | Sector: Petroleum

RELIANCE Rating

4.3/5 (12 Ratings)
RELIANCE Share Price *
1,088.8 +8.35 (0.77%)
* (quote may be delayed)

15 RELIANCE share price target reports by brokerages below. See what is analyst's view on RELIANCE share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.


You can also find RELIANCE share price target tomorrow or next week from RELIANCE discussion forum.

RELIANCE Share Price Forecast - Consensus
No. of reports in last year
15
No. of analysts
8
Average Consensus Forecast
1622.87
Consensus Potential
32.83%

RELIANCE Share Price Target - Broker Reports - 2020

31-Mar-20
Price @ Call: 1080.74
Target: 1523
BUY

20-Jan-20
Price @ Call: 1559.59
Target: 1820
BUY
Petrochem margins are likely to be weak in light of continued US-China trade concerns, the weak economic outlook and the strong additional supply globally over the next 2-3 years (RIL expects the petchem market to balance out by 2021-22). Polymer production was up 3% YoY, led by optimized operations of ROGC complex. Domestic polymer demand is likely to be healthy, driven by policy push and budgetary allocation for the infrastructure/agri sectors. We value RIL using SOTP. We value the core segment of Refining and Petrochem at 7.5x FY22E EV/EBITDA, factoring in the enhanced delayed coker capacity, the widening of crude blend window for maximizing distillate yields prior to IMO and the revival in Petchem margins for the company under its flexible feedstock utilization. Our DCF-based target price for RJio of INR500 ascribes 11% WACC and 3% terminal growth, with implied EV/EBITDA of 13/10x on FY21/22E. The rich valuation is justified by RJio’s strong leadership position in three years of commercial launch. While net debt including fiber assets is ascribed at INR2048b for FY21, management indicated that fiber asset sale would be announced soon, which could reduce debt by INR460b. Reliance Retail: We expect a CAGR (FY19-22) of 29% in revenue to INR2,828b and 36%/42% in EBITDA/core EBITDA to INR155b/INR147b. We value it on an FY22 SOTP basis to arrive at a target price of INR500/share. The stock trades at 15x FY21E EPS of INR105.2 and 9.8x FY21E EV/EBIDTA. We reiterate our Buy rating on the company with a revised TP of INR1,820.
... Read more

18-Jan-20
Price @ Call: 1573.9
Target: 1705
BUY
Retail earnings- growth continues unabated: The retail profitability continues remain strong as the company opens new stores and operating leverage plays out. For Q3, 456 new stores were opened and retail EBIDTA improved to Rs27bn (Rs23bn in Q2). 9MFY20 EBIDTA improved to Rs70.9bn (+66%YoY). Cut earnings, maintain BUY: We cut our estimates for FY20/21E to factor in lower refining margins by USD1/bbl for FY20/21 to USD9.5/10.5 and lower petchem profitability. Our revised PT stands at Rs1,705 (1,793 earlier).
... Read more

RELIANCE Share Price Target - Broker Reports - 2019

5-Dec-19
Price @ Call: 1560.87
Target: 1836
BUY

6-Dec-19
Price @ Call: 1554.89
Target: 1793
BUY
Reliance JIO has launched ‘All-in-One Plans’ with higher tariffs following hikes by Vodafone and Airtel. After three years of severe tariff war, price hikes are welcome and we expect further hikes going forward. We increase RJIO’s ARPU assumptions for FY21-22E to Rs 170 /180 vis-à-vis FY20 rate of Rs130. We also revise RJIO equity value to Rs799/sh as we ascribe higher multiple of 8.0x EV/E FY22E and to factor in recent proposed reorganization of its digital platform to transfer Rs1.08trn debt/liabilities to RIL. We upgrade RIL to BUY with a PT of Rs1,793 (Rs 1,395 earlier) as we incorporate higher value of JIO and also incorporate higher value on RIL retail at Rs439 (Rs316 earlier on roll over to FY22E).
... Read more

24-Oct-19
Price @ Call: 1392.85
Target: 1540
HOLD

22-Jul-19
Price @ Call: 1249
Target: 1652
BUY
Reliance Industries (RIL) continued to deliver steady earnings with Q1FY20 consolidated PAT at INR101bn beating estimate by 2.3%. EBITDA at INR208bn (adjusted for gains from Ind-AS 116: INR4.8bn) was broadly in line with estimate. Key highlights: 1) RIL has announced that the INR252bn investment by Brookfield in the tower InvIT will be used primarily for repayment of existing debt; 2) it has expanded coker capacity to leverage IMO, enabling it to convert HSFO in to gasoil; 3) refining in Q1FY20 delivered a solid beat on EBITDA (6% above estimate) despite lower GRM (GRM: USD8.1/bbl, estimate: 8.3/bbl) due to surge in refinery utilization; 4) petchem beat estimate 5% due to ramp up of cheaper ethane imports replacing costlier naptha and propane; and 5) RJIO’s earnings came in line while capex continues to remain elevated accounting for bulk of the INR220bn invested during the quarter. With no clarity on start of petcoke gasifier, we revise down refining and petchem earnings (lower polymer margins) leading to 4.5% cut in FY20E EPS for RIL and 3% cut in TP to INR1,652/share (INR1701 earlier). Maintain ‘BUY’.
... Read more

19-Jul-19
Price @ Call: 1256.84
Target: 1363
ACCUMULATE
Cut earnings, maintain Hold: We cut our estimates for FY20/21E by 10%/9% respectively to factor in lower GRMs. Our PT cut is cushioned by increased in value of retail to Rs132 (Rs117 earlier). We maintain our rating to ACCUMULATE.
... Read more

23-Apr-19
Price @ Call: 1344.8
Target: 1638
BUY
Valuations We value the company using SOTP valuation, thereby, valuing refining & petchem business at 7.0x FY21E EBITDA & telecom at 7.0x FY21E EBIDTA to arrive at a target price of INR 1638/share indicating 18.2% upside. We strongly recommend to add the stock on dips with an investment horizon of 1 year.
... Read more

23-Apr-19
Price @ Call: 1344.8
Target: 1835
BUY

23-Apr-19
Price @ Call: 1344.8
Target: 1535
BUY
We upgrade RIL to BUY after the 4QFY19 beat. We believe RIL will be the biggest beneficiary of the IMO regulations, as it is the most complex refiner globally. Hiving off R-Jio’s optical fiber and tower assets will unlock value by reducing attributable consolidated debt.RIL is creating value via (1) Transition from a low-multiple refining business to the consumer-oriented, digitally fired R-Jio, (2) Monetisation and deleveraging achieved by hiving off fiber and tower assets, (3) GRMs rising post the new IMO regulations (est. USD 9.2-12.0/bbl over FY19- 21E). Our SoTP is Rs 1,535/sh (7.5x EV/e for refining, 9x EV/e for petchem, Rs 6.0/sh for domestic E&P, 1x EV/capital for Shale, 25x EV/e for Retail and 10x EV/e for Telecom).
... Read more

23-Apr-19
Price @ Call: 1344.8
Target: 1630
BUY
Maintain Buy rating with revised PT of Rs. 1,630: We have fine tuned our FY2020E EPS and FY2021E EPS to factor in higher subscriber additions, higher earnings for retail business and lower refining margins. We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 1,630 as we ascribe higher value to the telecom and retail business backed by higher multiple and upward revision in earnings estimates for the segments. We believe that deleveraging of consolidated balance sheet with transfer of telecom infrastructure to infrastructure investment trusts and potential stake sale in downstream business (as per media reports) along with continued high growth in retail and telecom businesses would remain a key re-rating catalyst for the stock in near to medium term. At CMP, the stock is trading at 16.8x its FY2020E EPS and 15.2x its FY2021E EPS.
... Read more

22-Apr-19
Price @ Call: 1352.53
Target: 1431
NEUTRAL
Ourreport‘Weaknessaheadinrefiningandpetrochem’(releasedon2nd Apr’19) echoes with management’s guidance of expanding supply glut in both refining and petrochem in 1-2 years, which would keep the core sector performance under pressure. CapexintensityremainshighwithtotalinvestmentofINR327bin4QFY19 and INR1,345b in FY19 (+70% YoY). There is no specific guidance on capex. However, the petcoke gasifiers appear to have been commissioned fully, which should decrease capex, at least in the standalone business.
... Read more

19-Apr-19
Price @ Call: 1378.42
Target: 1406
ACCUMULATE
Maintain earnings, maintain ACCUMULATE: We maintain our estimates for FY19/20E. after a sharp run up, we maintain our rating to ACCUMULATE.
... Read more

16-Apr-19
Price @ Call: 1339.75
Target: 1636
BUY
We estimate RIL’s EBITDA to clock a robust 19% CAGR over FY19-23 driven by 14% CAGR for refining and 40% and 29% for retail and telecom, respectively, off a low base. Hence, we revise our TP to INR1,636 (INR1,435 earlier; based on SOTP). We reiterate ‘BUY/SO’. At CMP, the stock is trading at 7.0x FY21E EV/EBITDA.
... Read more

3-Apr-19
Price @ Call: 1388.45
Target: 1457
NEUTRAL
Global refining and petrochem peers are trading at ~6x FY20 EV/EBITDA. We value RIL’s refining and petrochemical segments at 7.5x – the premium here reflects the company’s superior capability to manage the crude basket, refinery yields, hedging and multiple feedstock for its petrochem segment. We value RIL using SOTP. We use 7.5x EV/EBITDA for refining/petrochem, DCF for E&P, 2.5x EV/sales for Reliance Retail and DCF for RJio. We roll over our valuation to FY21. With a revised TP of INR1,457, we downgrade our rating to Neutral due to limited upside in the stock.
... Read more

21-Jan-19
Price @ Call: 1182.95
Target: 1331
BUY

18-Jan-19
Price @ Call: 1133.75
Target: 1465
BUY

18-Jan-19
Price @ Call: 1133.75
Target: 1415
BUY

18-Jan-19
Price @ Call: 1133.75
Target: 1426
BUY

18-Jan-19
Price @ Call: 1133.75
Target: 1238
ACCUMULATE

RELIANCE Share Price Target - Broker Reports - 2018

12-Dec-18
Price @ Call: 1099.23
Target: 1465
BUY

23-Oct-18
Price @ Call: 1053.39
Target: 1346
BUY

22-Oct-18
Price @ Call: 1101.65
Target: 1434
BUY

20-Oct-18
Price @ Call: 1091.48
Target: 1430
BUY

18-Oct-18
Price @ Call: 1168.25
Target: 1479
BUY

30-Aug-18
Price @ Call: 1294.45
Target: 1465
BUY

3-Aug-18
Price @ Call: 1176.32
Target: 1442
BUY

30-Jul-18
Price @ Call: 1143.09
Target: 1270
BUY

30-Jul-18
Price @ Call: 1129.6
Target: 1457
BUY

28-Jul-18
Price @ Call: 1127.61
Target: 1301
BUY

24-May-18
Price @ Call: 916.53
Target: 990
HOLD

3-May-18
Price @ Call: 963.48
Target: 1178
BUY

27-Apr-18
Price @ Call: 998.95
Target: 1110
BUY

28-Apr-18
Price @ Call: 998.95
Target: 1150
BUY

27-Feb-18
Price @ Call: 938.6
Target: 1111
BUY

29-Jan-18
Price @ Call: 968.73
Target: 1125
BUY

22-Jan-18
Price @ Call: 929.35
Target: 1174
BUY

20-Jan-18
Price @ Call: 927.02
Target: 1069
BUY

8-Jan-18
Price @ Call: 923
Target: 1151
BUY

4-Jan-18
Price @ Call: 916.35
Target: 1151
BUY

RELIANCE Share Price Target - Broker Reports - 2017

29-Dec-17
Price @ Call: 924.4
Target: 1040
BUY

27-Nov-17
Price @ Call: 949.5
Target: 1005
BUY

13-Nov-17
Price @ Call: 883.5
Target: 1077
BUY

10-Nov-17
Price @ Call: 901.55
Target: 1000
BUY

2-Nov-17
Price @ Call: 947.64
Target: 990
BUY

16-Oct-17
Price @ Call: 876.7
Target: 835
REDUCE

16-Oct-17
Price @ Call: 876.7
Target: 1104
BUY

16-Oct-17
Price @ Call: 876.7
Target: 1005
BUY

21-Sep-17
Price @ Call: 847.1
Target: 941
NEUTRAL

3-Sep-17
Price @ Call: 804.31
Target: 875
BUY

28-Jul-17
Price @ Call: 793
Target: 892.5
BUY

21-Jul-17
Price @ Call: 786.87
Target: 1000
BUY

21-Jul-17
Price @ Call: 786.87
Target: 900
BUY

21-Jul-17
Price @ Call: 786.87
Target: 832.5
BUY

20-Jul-17
Price @ Call: 764.5
Target: 891
BUY

19-Jun-17
Price @ Call: 693.93
Target: 775
BUY

16-Jun-17
Price @ Call: 693.95
Target: 822.5
BUY

3-May-17
Price @ Call: 1370.94
Target: 1600
BUY

28-Apr-17
Price @ Call: 704
Target: 792
BUY

20-Apr-17
Price @ Call: 685
Target: 800
BUY

22-Feb-17
Price @ Call: 604
Target: 726
BUY

23-Jan-17
Price @ Call: 1020.29
Target: 1330
BUY

17-Jan-17
Price @ Call: 520.5
Target: 728.5
BUY

17-Jan-17
Price @ Call: 538.5
Target: 547
ACCUMULATE

17-Jan-17
Price @ Call: 538
Target: 612.5
BUY

16-Jan-17
Price @ Call: 538
Target: 706.5
BUY

RELIANCE Share Price Target - Broker Reports - 2016

25-Apr-16
Price @ Call: 1039
Target: 1375
BUY

25-Apr-16
Price @ Call: 1014
Target: 1288
BUY

25-Apr-16
Price @ Call: 1027.9
Target: 1130
BUY

30-Dec-16
Price @ Call: 540.28
Target: 600
BUY

1-Dec-16
Price @ Call: 499
Target: 703.5
BUY

24-Oct-16
Price @ Call: 532.2
Target: 642.5
BUY

21-Oct-16
Price @ Call: 544
Target: 650
BUY

21-Oct-16
Price @ Call: 543.78
Target: 600
BUY

21-Oct-16
Price @ Call: 544.5
Target: 551
ACCUMULATE

20-Oct-16
Price @ Call: 544
Target: 700.5
BUY

1-Sep-16
Price @ Call: 514.5
Target: 564.5
NEUTRAL

1-Sep-16
Price @ Call: 514.6
Target: 600
BUY

11-Aug-16
Price @ Call: 515
Target: 685
BUY

  • RELIANCE - Share Price Target Potential

    keyboard_arrow_down
    BrokerageTargetPotential
    Motilal Oswal1,52329.06%
    Prabhudas Lilladher1,70536.63%
    Geojit Financial Services1,54029.84%
    Edelweiss1,65234.60%
    Nalanda Securities1,63834.04%
  • RELIANCE Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,200.65
    Upside Target 21,167.55
    Upside Target 11,122.5
    Pivot1,089.4
    Downside Target 11,044.35
    Downside Target 21,011.25
    Downside Target 3966.2
  • RELIANCE Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,249.05
    Upside Target 21,191.75
    Upside Target 11,134.6
    Pivot1,077.3
    Downside Target 11,020.15
    Downside Target 2962.85
    Downside Target 3905.7
  • RELIANCE Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,838.22
    Upside Target 21,598.08
    Upside Target 11,355.92
    Pivot1,115.78
    Downside Target 1873.62
    Downside Target 2633.48
    Downside Target 3391.32
  • RELIANCE Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,167.55
    Upside Target 21,137.7
    Upside Target 11,119.25
    Pivot1,089.4
    Downside Target 11,059.55
    Downside Target 21,041.1
    Downside Target 31,011.25
  • RELIANCE Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,191.75
    Upside Target 21,148.03
    Upside Target 11,121.02
    Pivot1,077.3
    Downside Target 11,033.58
    Downside Target 21,006.57
    Downside Target 3962.85
  • RELIANCE Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,598.08
    Upside Target 21,413.84
    Upside Target 11,300.02
    Pivot1,115.78
    Downside Target 1931.54
    Downside Target 2817.72
    Downside Target 3633.48
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.