Jan 20, 2014, 12.01 PM IST
LKP has come out with irs result update on Reliance Industries (RIL). The research firm has revised its target price of the stock from Rs 939 to Rs 952 per share, in its research report dated January 20, 2014.
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LKP upgrades Reliance Industries` target price to Rs 952
LKP has come out with irs result update on Reliance Industries (RIL). The research firm has revised its target price of the stock from Rs 939 to Rs 952 per share, in its research report dated January 20, 2014.
Like this story, share it with millions of investors on M3
LKP upgrades Reliance Industries` target price to Rs 952
LKP has come out with irs result update on Reliance Industries (RIL). The research firm has revised its target price of the stock from Rs 939 to Rs 952 per share, in its research report dated January 20, 2014.
"RIL's Q3FY14 operating profit of Rs 76.2bn was in line with our estimate while net profit of Rs 55.1bn was 3.7 percent higher than our estimate of Rs 53.2bn on account of higher other income. GRM for the quarter at USD 7.6/bbl was inline with our estimate while RIL's premium over Singapore complex GRM increased from USD 2.2 to USD 3.3/bbl on account of increase in Arab Light Heavy differential. Petchem EBIT for the quarter declined by 15.2 percent sequentially to Rs 21.2bn, which was 13.8 percent lower than our estimate on account of lower volumes in polymers and polyester segments and decline in regional deltas for PP, PVC and fibre intermediates. Gas production from KG-D6 declined further to 12.7mmscmd (yoy/qoq -11.8/-1.6mmscmd). Other income increased by 32.5 percent yoy to Rs 23bn (33 percent of PBT). We revise our target price from Rs 939 to Rs 952. At the CMP, the stock is trading at 10.4x and 7.2x FY15e earnings and EV/EBITDA respectively," says LKP research report.
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