ICICI Securities NSE -3.51% has a "add" call on Reliance Industries and has set a target price of Rs 2805 for the stock.
The price of Reliance Industries NSE -0.19% on the market right now is Rs 2626.4. Analysts say it will take one year for the price of Reliance Industries Ltd NSE -0.19% to reach the goal.
Image Credit: Google
Reliance Industries Ltd.'s primary products/revenue segments for the year ending 31-Mar-2021 include petrochemicals, financial services, other services, oil & gas, and retailing.
For the quarter ending June 30, 2022, the company reported a Consolidated Total Income of Rs 225360.00 Crore, which is up 5.14 percent from the previous quarter's Total Income of Rs 214344.00 Crore
Total Income of Rs. 148591.00 Crore, an increase of 51.66% over the same quarter previous year. In the most recent quarter, the company reported net profit after tax of Rs. 19508.00 Crore.
Despite Rs2.6trn influx over the previous 2 years through RJio and retail value unlocking and the Rs529bn rights offering, net cash fell by Rs135bn in FY21 and rose by only Rs178bn in FY22.
For this reason, FCF yield in FY22 remained subdued at 0.5%. Continue to ADD, but lower your price target to Rs2,805/sh based on the new SoTP.