Reliance share price trades flat. Should you buy RIL shares ahead of Q4 results 2024?

Reliance share price: Shares of Reliance Industries Ltd (RIL) are trading flat ahead of the announcement of Q4 results 2024. RIL share price today opened with an upside gap at ₹2,644.90 apiece on NSE and went on to touch an intraday high of ₹2,949.70 per share mark within a few minutes of the stock market's opening bell. However, profit-booking soon triggered and the Sensex heavyweight retraced from its intraday high and touched an intraday low of ₹2,935.60 per share. Reliance shares are currently trading at ₹2,946 apiece on NSE.

Catch Reliance Q4 Results LIVE Updates

According to stock market experts, Reliance Q4 results are coming today and the market is expecting a robust Q4FY24 number from the Indian major as the company is expected to benefit from the recovery in its core oil-to-chemicals business. They went on to add that RIL is likely to see a sharp jump in its OTC segment earnings sequentially with an improvement in GRMs, better petchem, and higher refining throughout. Giving a 'stock to buy today' tag ahead of the Q4 results today, experts said that the stock may go up to ₹3,200 apiece level once the RIL share price breaks above ₹3,000 apiece level on a closing basis.

Reliance Q4 results 2024 expectations

Expecting a 'robust' Reliance Q4 results in 2024, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "Reliance Industries Ltd is set to report robust quarterly earnings, driven by a recovery in its core oil-to-chemicals business and sustained momentum across the company’s consumer-facing telecom and retail businesses. Revenue is expected to increase by 11.4 percent to ₹2.36 lakh crore from a year earlier to ₹2.12 lakh crore. EBITDA to rise 9.4 percent to ₹42,052 crore from ₹38,440, underpinned by robust growth in the O2C business."

The Pace 360 expert went on to add that the net profit for the quarter, however, is expected to drop 5.7 percent to ₹18,200 crore from ₹19,299 crore on increased depreciation and high tax rate.

Speaking on Reliance Q4 results in Q4FY24, Shreyansh Shah, Research Analyst at StoxBox said, "The company's operational performance is expected to improve, led by the O2C segment due to better refining margins. However, net profit growth may slow to a low single-digit annually due to higher depreciation. In Q4FY24, the capex is expected to moderate due to lower requirements in digital services. However, the capex towards petrochemical expansion would be higher."

The StoxBox expert went on to add that Reliance is likely to see a sharp jump in its OTC segment earnings sequentially with an improvement in GRMs, better petchem, and higher refining throughput.

"Jio is expected to show steady performance, while the retail segment profitability should be resilient. Increasing store count and footfalls in Reliance Retail, along with improvement in ARPU and increased net subscribers from Jio, and better petchem will contribute to Reliance Industries' performance in Q4FY24," the StoxBox expert concluded.

Reliance share price target

Expecting a big upside in RIL share price after the announcement of Reliance Q4 results 2024, Sumeet Bagadia, Executive Director at Choice Broking said, "RIL shares have made a strong base at ₹2,870 per share level. Those who have Reliance shares in their stock portfolio are advised to maintain strict stop loss at ₹2,870 apiece level. Reliance share price may touch ₹3,000 soon after the announcement of Q4 results today. However, if the RIL share price sustains above ₹3,000 on a closing basis, we may see the Senesex heavyweight at around ₹3,200 per share level."

On the suggestion to the fresh investors, Sumeet Bagadia said, "Fresh investors can buy RIL shares at current market price for the near-term targets of ₹3,000 and ₹3,200 apiece levels. However, once the Reliance shares give a breakout above ₹3,000 apiece on a closing basis, investors are advised to upgrade their stop loss from ₹2,870 to ₹2,940 per share level."

Reliance Q4 results date and time

Mukesh Ambani-led conglomerate Reliance Industries, declared on 15th April 2024 that it will announce its Q4 results 2024 on April 22. Additionally, the company's board will also consider and approve a dividend.

“A meeting of the Board of Directors of the Company is scheduled to be held on Monday, April 22, 2024 to consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2024 and recommend dividend on equity shares of the Company for the financial year ended March 31, 2024,” RIL said in its exchange filing.

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.