Reliance share price: Should you buy RIL stocks ahead of Q1 results today?

Q1 results today: Dalal Street heavyweight Reliance Industries Ltd, or RIL, is going to declare its Q1 results for 2024. RIL informed about the same in one of its latest exchange filings. So, Reliance share price is expected to remain under the radar of Indian stock market investors throughout the Friday session.

According to stock market experts, Reliance may deliver a mixed set of numbers in the first quarter of the current financial year. They also predicted that the company may provide a better number yearly. However, they said that the company's earnings may contract sequentially.

Reliance Q1 results 2024 preview

Regarding Reliance results for A1FY25, Prathamesh Masdekar, Research Analyst at StoxBox, said, “Reliance Industries Ltd. is expected to report a mixed set of numbers in Q1FY25, which may see a rise in revenue annually. Still, there could be a sequential decline in operating profit and margin. The company's operational performance is expected to be subdued mainly due to lower refining margins and a slowdown in the retail business.”

"Additionally, higher depreciation may impact net profit growth to a low single-digit annually. Reliance will likely see a sharp decline in its OTC segment earnings due to sequential correction in GRMs despite better capacity utilization, petchem pricing and margins. Jio is expected to show steady performance, while the retail segment profitability should be moderate. Increasing store footprint, operating leverage in Reliance Retail, net subscribers' additions from Jio, and better Petchem pricing will contribute to Reliance Industries' performance in Q1FY25," the StoxBox expert said.

Reliance share price target

Speaking on the outlook of Reliance share price, Sumeet Bagadia, Executive Director at Choice Broking, said, “Reliance shares will remain strong and an idea buy-on-dips stock till it is trading above ₹3100. So, those who want to add RIL shares to their portfolio can buy Reliance shares at the current market price for the short-term target of ₹3250, maintaining a stop loss of ₹3100. Similarly, RIL shareholders are advised to hold the scrip maintaining stop loss at ₹3100 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.