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Economic Times
19 minutes ago
- Economic Times
Why did RIL's shares plummet despite analysts' positive projections?
Jani said Q1 results for O2C and retail businesses were below market expectations, while telecom unit results were in line with expectations. Synopsis Reliance Industries' shares experienced a decline of over 3% on Monday. This followed the release of Q1 earnings that were lower than anticipated. Investors reacted to the results and a deferred IPO plan. Despite the dip, brokerages maintain a positive outlook on the company. They foresee potential growth triggers in the near future. Mumbai: Shares of Reliance Industries dropped over 3% on Monday as investors weighed the conglomerate's lower-than-expected Q1 earnings against analysts' positive outlook on stock after results. Stock ended at ₹1,428.6 on Monday, down 3.2%, capping gains in Sensex and Nifty, which ended 0.5% higher. ADVERTISEMENT "Reliance shares had recently rallied on expectations of strong quarterly results and a potential IPO announcement for its telecom business," said Sumit Pokharna, VP, fundamental research, Kotak Securities. "But, the management's clarification the IPO is deferred to next year had earlier led to some correction, and combined with results below Street estimates, we saw some profit-booking." The stock has gone up about 17% so far this year, against Nifty's 5.7% gains. PAT in June quarter stood at ₹30,681 crore, up 36.8% from January-March. Its revenues from operations stood at ₹2,48,660 crore, down 6% from previous quarter. It had recorded a one-time gain from selling its stake in Asian Paints for nearly ₹8,900 crore. Brokerages remain positive on company, with most retaining 'buy' and 'add' ratings post results. Price targets imply an upside of 8-19% from current levels. "We see 3 growth triggers for RIL in near term: scale-up of new energy business; Jio tariff hikes; and potential IPO/listing for Jio which has now been pushed beyond 2025," said Nomura. The stock may underperform in near term. "In absence of clear catalysts, stock may remain a laggard," said Hemang Jani, director at Finazenn. Jani said Q1 results for O2C and retail businesses were below market expectations, while telecom unit results were in line with expectations. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Mint
19 minutes ago
- Mint
Best stocks to buy today, 22 July, recommended by NeoTrader's Raja Venkatraman
On Monday, India's benchmark indices staged a strong turnaround after an early slip. The Sensex rebounded from a morning low of 81,609 to finish about 378 points (0.46%) higher at 82,136 points, while the Nifty clawed back from 24,900 to trade near 25,066 (up 0.39%) by late morning. The market's rangebound scenario, however, remains an important challenge to address as the failure to move higher is a cause of worry. While the inability of the trends to head lower awaits some triggers amid this environment we need to muster enough courage to keep us going. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Tuesday, 22 July. Best stocks to buy today SCHAEFFLER: Buy CMP and dips to ₹4,190 | Stop: ₹4,160 | Target: ₹4,625-4,775 UTIAMC: Buy CMP and dips to ₹1,431 | Stop: ₹1,405 | Target: ₹1,580-1,640 APTUS: Buy CMP and dips to ₹340 | Stop: ₹335 | Target: ₹385-398 The stock market on Monday The market rally on Monday was led by banking heavyweights ICICI Bank and HDFC Bank, as ICICI Bank shares jumped 3% on a 15.9% year-on-year rise in Q1 net profit to ₹13,558 crore, and HDFC Bank gained over 2% despite a 1.3% profit dip to ₹16,258 crore, buoyed by strong loan growth guidance. Positive global cues from a firm Wall Street futures market and gains across Asia—particularly in South Korea's Kospi and Hong Kong's Hang Seng—supported risk-on sentiment. Among other top performers were Eternal (+2.8%) on IT hardware demand, Hindalco (+2.5%) on improving aluminium spreads and export prospects, and UltraTech Cement (+2.3%) ahead of monsoon-driven construction activity. Looking ahead, the market is likely to test resistance near 25,150-25,200 on the Nifty, with key support around 24,900-24,850. Banking and select infrastructure stocks remain attractive on tactical long setups with stops near recent intraday lows. Traders should monitor weekly F&O expiry around the 25,000 level, upcoming Q1 earnings from Infosys for sector rotation signals, and developments in crude oil and RBI commentary for implications on bond yields and banking spreads. Outlook for trading Going forward, the story continues to echo mixed sentiments. The much-wanted green patch brought an end to the constant selling pressure that has been unfolding. However, one should consider that the Bank Nifty, which had broken some supports quickly, recovered mainly backed by encouraging results from HDFC Bank and ICICI Bank. The market remained confused but managed to hold out the supports at around 24,900 and produce a dramatic revival. The week began on a weak note drawing people to go short. However, strong support zones combined with heavy Put writing around the 24,900 zone came to the rescue to bring about a sterling recovery. The revival does indicate that the upward drive will continue to be measured as the market has now witnessed many revival attempts. During the past few weeks, whenever there was a recovery, the attempt got nullified rather quickly. We are now observing that the Max Pain Point has shifted to 25,100 as the PCR remains suppressed well below 1, indicating that the selling pressure has cooled off. As trends are spending some time to hold on to the bullish bias seen on Monday, we continue to witness some encouraging triggers, thus leading the trends through some challenging times. Time for being alert as trends are getting clearer. Three stocks to buy today, recommended by NeoTrader's Raja Venkatraman SCHAEFFLER:Buy CMP and dips to ₹4,190 | Stop: ₹4,160 | Target: ₹4,625-4,775 UTIAMC:Buy CMP and dips to 1431 stop 1405 target 1580-1640 APTUS :Buy CMP and dips to ₹340 | Stop: ₹335 | Target: ₹385-398 Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
34 minutes ago
- Time of India
Why did RIL's shares plummet despite analysts' positive projections?
Mumbai: Shares of Reliance Industries dropped over 3% on Monday as investors weighed the conglomerate's lower-than-expected Q1 earnings against analysts' positive outlook on stock after results. Stock ended at ₹1,428.6 on Monday, down 3.2%, capping gains in Sensex and Nifty, which ended 0.5% higher. "Reliance shares had recently rallied on expectations of strong quarterly results and a potential IPO announcement for its telecom business," said Sumit Pokharna, VP, fundamental research, Kotak Securities. "But, the management's clarification the IPO is deferred to next year had earlier led to some correction, and combined with results below Street estimates, we saw some profit-booking." The stock has gone up about 17% so far this year, against Nifty's 5.7% gains. PAT in June quarter stood at ₹30,681 crore, up 36.8% from January-March. Its revenues from operations stood at ₹2,48,660 crore, down 6% from previous quarter. It had recorded a one-time gain from selling its stake in Asian Paints for nearly ₹8,900 crore. Explore courses from Top Institutes in Select a Course Category Public Policy Design Thinking MBA Others Operations Management Technology Management Finance Data Science Leadership Healthcare Project Management Data Analytics Data Science Product Management Degree CXO others Cybersecurity MCA Digital Marketing healthcare Artificial Intelligence PGDM Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Agencies Brokerages remain positive on company, with most retaining 'buy' and 'add' ratings post results. Price targets imply an upside of 8-19% from current levels. "We see 3 growth triggers for RIL in near term: scale-up of new energy business; Jio tariff hikes; and potential IPO/listing for Jio which has now been pushed beyond 2025," said Nomura. The stock may underperform in near term. "In absence of clear catalysts, stock may remain a laggard," said Hemang Jani, director at Finazenn. Jani said Q1 results for O2C and retail businesses were below market expectations, while telecom unit results were in line with expectations. ETMarkets WhatsApp channel )
