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    Buy Reliance Industries, target price Rs 2378: ICICI Direct

    Synopsis

    Reliance Industries, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1592613.50 Crore) operating in Diversified sector.

    Reliance IndustriesIANSHINDI
    Bullish Double bottom formation and higher high-low on daily chart signaling pullback expected in coming sessions.
    ICICI Direct has buy call on Reliance Industries with a target price of Rs 2378. The current market price of Reliance Industries is Rs 2366.7. Time period given by analyst is Intra Day when Reliance Industries price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 2334.

    Reliance Industries, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1592613.50 Crore) operating in Diversified sector.

    Reliance Industries key Products/Revenue Segments include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others and Income from Retailing for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 223739.00 Crore, down -5.35 % from last quarter Total Income of Rs 236377.00 Crore and up 14.55 % from last year same quarter Total Income of Rs 195318.00 Crore. Company has reported net profit after tax of Rs 17740.00 Crore in latest quarter.

    The company’s top management includes Mr.Mukesh D Ambani, Mr.K V Chowdary, Mrs.Arundhati Bhattacharya, Dr.Shumeet Banerji, Mr.Raminder Singh Gujral, Mr.Adil Zainulbhai, Mrs.Nita M Ambani, Mr.Hital R Meswani, Mr.Nikhil R Meswani, Mr.Pawan Kumar Kapil, Mr.P M S Prasad, Mr.Yasir Othman H Al Rumayyan. Company has S R B C & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 677 Crore shares outstanding.

    Investment Rationale
    Bullish Double bottom formation and higher high-low on daily chart signaling pullback expected in coming sessions.

    Promoter/FII Holdings
    Promoters held 50.49 per cent stake in the company as of 31-Dec-2022, while FIIs owned 23.48 per cent, DIIs 15.19 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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