Reliance
14.02.2022 - JpMorgan on Reliance Maintain Neutral CMP 2376 Target 2575
14.02.2022 - CITI on Reliance Maintain Neutral CMP 2376 Target 2750
31.01.2022 - CLSA on Reliance Maintain Buy CMP 2335 Target 2955
24.01.2022 - MS on Maintain Overweight CMP 2478 Target 2925
24.01.2022 - Macquarie on Reliance Maintain Underperform CMP 2478 Target 2850
24.01.2022 - CLSA on Reliance Maintain Outperform CMP 2478 Target 2850
24.01.2022 - Jefferies on Reliance Maintain Buy CMP 2478 Target 2950
18.01.2022 - CLSA On Reliance Maintain Outperform CMP 2523 Target 2820
11.01.2022 - MS on Reliance Maintain Overweight Target 2925
10.01.2022 - Jefferies on Reliance Maintain Buy rs.3400
03.01.2022 - MS on Reliance OverWeight , TP Rs 2925
21.12.2021 - Morgan Stanley On Reliance - Maintain Overweight CMP 2277 - Target Rs.2925
21.12.2021 - Morgan Stanley On Reliance - Maintain Overweight - Target Rs.2925
01.09.2021- Jefferies Buy, TP Rs 2580
30.08.2021- MS on RIL -OW, TP Rs 2269
30.08.2021 - UBS on Buy, TP Rs 2500
MORGAN STANLEY ON RELIANCE IND : 29.07.2021
* See earnings upgrade cycle ahead for Reliance Industries as all businesses see positive operational triggers
* See Earnings Upgrade Cycle Ahead As All Businesses See Positive Operational Triggers
* Airtel Has Brought Its Entry Level Prepaid Plan Closer To Jiophone-only Entry Level Plan
• While It Has Limited Impact On RIL'S ARPU, It Could Help Net Adds & Reduce Subscriber Churn
* MAINTAIN OVERWEIGHT TARGET: 2,269
MORGAN STANLEY ON RELIANCE IND
* Reliance Industries Q1 earnings quality was good, with energy in the driver's seat; see both multiples & expectations rising in coming quarters, MS says
* MAINTAIN OVERWEIGHT TARGET: 2,262
* An Uplift In The Street's Expectations Is Imminent
• Earnings Quality Was Good, With Energy In The Driver's Seat
* See Both Multiples & Expectations Rising In Coming Quarters
JPMORGAN ON RELIANCE IND : 26.07.2021
* JPMorgan sees Reliance Ind's stock price remaining in a range, Q1 results unlikely to help stock reverse underperformance, the brokerage adds
* MAINTAIN NEUTRAL TARGET: 2,250
* 02C, E&P Offset Weak Consumer Biz In Another Muted Quarter
* Earnings Unlikely To Help Stock Reverse Underperformance
* See Stock Price Remaining In A Range
MORGAN STANLEY ON RELIANCE IND : 26.07.2021
* Reliance Industries Q1 earnings quality was good, with energy in the driver's seat; see both multiples & expectations rising in coming quarters, MS says
* MAINTAIN OVERWEIGHT TARGET: 2,262
* An Uplift In The Street's Expectations Is Imminent
• Earnings Quality Was Good, With Energy In The Driver's Seat
* See Both Multiples & Expectations Rising In Coming Quarters
CLSA ON RIL AGM : 25.06.2021
* MAINTAIN OUTPERFORM TARGET: 2,250
* CLSA maintains OUTPERFORM call on Reliance Industries, target at Rs 2,250/sh
* Exhibited Hopes Of Closing The 02C Stake Sale With Aramco This Year
* Clarity On The New Energy Foray Is Useful
* Any Big Take-up Of New Smartphones To Be An Imp trigger
* Progress In Omni-channel Retail Will Also Be An Imp Trigger
EDELWEISS ON RIL AGM : 25.06.2021
* MAINTAIN HOLD TARGET: 2,105
* Edelweiss maintains HOLD call on Reliance, target at Rs 2,105/sh
* New Energy Taking Precedence Over Jio Platforms & Retail
* We View The Shift To New Energy As A Significant ESG Positive
* 'New Energy' Will Provide The Next Leg Of Growth
* We Believe Gas Will Be A Key Driver Contributing $10,000 Cr To EBITDA By FY24
* Jio & Retail To Contribute Half Of Co's EBITDA By FY25
* We Still See Huge Scope For Its 02C biz To Be A Major Contributor
MS ON RIL AGM : 25.06.2021
* MAINTAIN OVERWEIGHT TARGET: 2,262
* Morgan Stanley maintains OVERWEIGHT call on Reliance Industries, target at Rs 2,262/sh
* Focussed On Next Hypergrowth Opportunity In Clean Tech
* 'MEGA' Plan Is Unique In A Global Context & Can Spur Re-rating
* 'MEGA' Plan Raises Invst Cycle Clarity & Reduces Holdco Discount Worry
* Shift in Cap Allocation To Renewables/Decarbonisation Capex Should Lift Multiples
* Co's Partnership Approach In New Energy Biz Should Not Cause De-rating
MACQUARIE ON RIL : 25.06.2021
• Maintain Underperform, Target at Rs 1,350/share
* Diverse aspirations vs fundamental realities
* RIL remains a consensus long
* Estimates and fundamental fair value 25%-35% below consensus
* Incremental capital employed tilts back towards energy (albeit green)
CLSA ON RIL : 25.06.2021
• Maintain Outperform, Target at Rs 2,250/share
• US $10bn foray into new energy & 4G smartphone launch on 10 Sep 2021
• Discussions on 02C deal with Aramco continue
• Affordable 4G smartphone powered by Google: JioPhone Next
• Omni channel expansion to continue in retail
UBS ON RIL : 25.06.2021
• Maintain Neutral, Target at Rs 2,150/share
• New energy investments for the next decade
* Recasting itself as a clean energy and materials company
• Synergies from partnerships gradually materializing
* Pivoting towards renewables; US $10bn investment over 3 years
MORGAN STANLEY ON RIL : 25.06.2021
* Maintain Outperform, Target at Rs 2,262/share
* RIL'S AGM focused on the next hypergrowth opportunity in clean tech
* The "MEGA" plan is unique in a global context in multiple ways
• Plan has potential to spur re-rating, raises clarity on the investment cycle
• RIL has made progress on its decarbonisation plan
CS ON RELIANCE IND : 23.06.2021
* CS believes revamped Embibe app should position Reliance Ind as a key player in EdTech, has a Neutral call on the stock
* MAINTAIN NEUTRAL TARGET: 1,950
* Revamped Embibe App Should Position Co As A Key Player In EdTech
* Expect Paid User Base In e Education To Grow By 3x To 30 m By CY25
* If Co Captures 10% Share, Then It Could Be Worth $7-8 Bn
* Value Co's EdTech At $3.5 Bn As It's Yet To Unveil Its Bouquet Of Svcs
GOLDMAN SACHS ON RIL : 22.06.2021
• Maintain BUY, Target at Rs 2,425/share
* Underappreciated retail growth opportunity
* Value RIL retail business at US$88 bn in our base case
* Expect RIL core EBITDA growth of 59% YoY in FY22E
HSBC ON RIL : 21.06.2021
* Maintain HOLD, Target at Rs 2,070/share
* In the last 10 years trading vol has surged around the AGM
* RIL stock outperformed NIFTY post AGM only 6/10 times
* Stock up 13% from 1 month prior to AGM to date,
* RIL may carry the burden of meaningful announcements
* Await a significant pick up in business earnings
RELIANCE INDUSTRIES IN FOCUS :10.06.2021
* Reliance Industries received Rs 13,150.7 cr (99% of total) amount due on 1st call for partly paid-up shrs till May 31. 41.78 cr partly paid-up available for trading on exchanges from today
• Received Rs 13,150.7 Cr (99% Of Total) Amount Due On 1st Call For Partly Paid-up Shrs
• Total Amount Payable By Shareholders Towards 1st Call Was Rs 13,281.05 Cr
* Co Completes Corporate Action For Credit Of 41.78 Cr Partly Paid-up Equity Shares
* These 41.78 Cr Partly Paid-up Available For Trading On Exchanges from Today
