Growth was driven by telecom and retail businesses, which helped to offset the impact of weak oil-to-chemical cycles and soft gas realization. The trend was also in the last quarter, where Retail and Jio have operated the company’s earnings in the past.
The Jamnagar complex, which has two refineries with a combined capacity of about 1.4 million barrels per day, has been Histor, Reliance’s O2C operation and major profit driver’s powerhouse.
With the results, the company has paid Rs. 5.5 dividends and a large fund .I also announced a plan to do, which shows continuous expansion plans. Despite a challenging global economic environment, Reliance said it had maintained operational discipline and the management of constantly investing in the growth initiative has put an optimistic tone on the point of view.
How to trade RIL on Monday?
In front of the results on Friday, RIL shares were Rs 1,301. However, this year, the stock has a reasonable performance, which has increased by about 7%.
Analysts are unanimous that the stock is moving aside in a narrow series and is not showing strong movements in both directions. “On the Daily Chart, we are monitoring a one -sided movement that does not give a clear direction to the trend,” said Milen Vasudoo, SR technical analyst at Airihant Capital Markets.
Currently, the immediate resistance of the RIL is at 1,341 levels. Any near one above 1,341, the sidewalk will carry on the velocity and in such a scenario, it is likely to test 1,410-1,460 levels.
“From Rs. 1,320, 1,345–1,360 Rs.
Meanwhile, Vasudio has targeted investors in a few weeks. 1,410 – 1,460 levels for Rs. Advised to buy stock at the current market level with a stop loss of 1,250.
Along with the results, the company has also announced a dividend and a large fund .In a plan to do it, which shows continuous expansion in its future sectors.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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