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Business Standard
2 days ago
- Business
- Business Standard
Reliance shares slip 2% as Q1 misses estimates; more selling ahead?
Shares of Reliance Industries slipped over 2.5 per cent in Monday's intraday session after the conglomerate's margin and profit for the June quarter (Q1FY26) came in below the street's expectations. The stock of India's most valuable company fell as much as 2.52 per cent during the day to ₹1,438 per share, the lowest level since June 20 this year. RIL scrip was the top dragger in the Nifty 50 index, down 0.30 per cent as of 9:35 AM. RIL Q1 results The oil-to-telecom conglomerate reported a 78.3 per cent year-on-year (Y-o-Y) growth rate in net profit during Q1FY26, largely due to a one-off gain from its stake sale in Asian Paints. The company's consolidated net profit jumped to a record high of ₹26,994 crore in Q1FY26 from ₹15,138 crore in Q1FY25. Excluding the gains from other income, its consolidated profit before tax was up by 14.4 per cent Y-o-Y, below the street's estimates. RIL's consolidated net sales were slightly below expectations and were up 5.1 per cent Y-o-Y. The slower revenue growth was largely due to a Y-o-Y contraction in its oil-to-chemicals and oil & gas business. In comparison, both Jio Platform and Reliance Retail reported double-digit Y-o-Y growth in net sales during the quarter. RIL Q1 breakdown The O2C business reported a 1.5 per cent Y-o-Y decline in revenue during the first quarter, while its revenues were down 6 per cent Y-o-Y in the quarter. Net sales of the telecom and digital business were up 19 per cent Y-o-Y to ₹35,032 crore in Q1FY26 from ₹29,449 crore in Q1FY25. Net sales of its retail venture were up 11.3 per cent Y-o-Y to ₹73,720 crore in Q1FY26 from ₹66,260 crore a year before. Analysts on RIL Q1 results Nuavam Institutional Equities remained bullish on the conglomerate, mainly on its strong positioning for multidecadal growth driven by its New Energy (NE) ecosystem. The NE rollout is expected to ramp up over the next 4-6 quarters and could contribute over 50 per cent to profit after tax (PAT), potentially unlocking an enterprise value of $20 billion. While Q1 Ebitda rose 11 per cent Y-o-Y, it fell short of estimates due to relatively weaker performance in the retail and O2C segments. Nuvama expects gross refining margins (GRMs) to remain above $10 per barrel and highlighted the potential re-rating of the O2C business, aligning with RIL's net-zero-carbon goal by 2035. Nuvama has maintained a 'Buy' rating on Reliance Industries with a target price of ₹1,767. Emkay Global said that consolidated Ebitda and net profit came in below expectations, 5 per cent and 7 per cent short of estimates, respectively. Management remains optimistic, citing support for the oil-to-chemicals (O2C) segment from refinery closures in the West, while Retail and Jio are expected to accelerate, aiming to double group Ebitda over the next 4-5 years. The NE ecosystem is projected to become fully operational within 4-6 quarters, with partnerships and a self-funded model expected in the long term, it said. Nomura has reiterated its 'Buy' rating on Reliance Industries, while trimming its FY27 Ebitda estimate by 3 per cent and lowering the target price to ₹1,600. The brokerage remains optimistic on RIL's medium-term outlook, citing the scale-up of the company's NE business, tariff hikes for Jio that are expected to directly boost profitability, and a potential IPO or listing of Jio. Nomura believes the NE vertical could emerge as RIL's next growth engine, with the company targeting global leadership in integrated solar solutions and energy storage system (ESS) battery manufacturing and deployment. RIL share price history Shares of the company fell for the third straight day and fell over 6 per cent from their recent peak of ₹1,541 per share on July 7. The counter has risen 19 per cent this year, compared to a 5.3 per cent advance in the benchmark Nifty 50. RIL has a total market capitalisation of ₹19.5 trillion.
Business Upturn
2 days ago
- Business
- Business Upturn
Reliance Industries: Buy or sell? Brokerages maintain bullish view, see up to 20% upside on new energy and Jio triggers
By News Desk Published on July 21, 2025, 08:34 IST Following the June quarter results, global and domestic brokerages have largely maintained a positive stance on Reliance Industries (RIL), with most recommending a Buy rating despite operational softness in Oil-to-Chemicals (O2C) and Retail segments. Analysts are looking ahead to key triggers such as the scale-up of New Energy, a Jio tariff hike, and a potential IPO of Jio, as major drivers for the stock. Here's a round-up of what top brokerages are saying: Jefferies: Buy | Target Price: ₹1,726 Jefferies maintained its Buy rating, projecting a 17% upside from current levels. Although consolidated EBITDA was 3% below estimates, with O2C and Retail segments falling short, Jio's performance was strong, backed by subscriber growth, broadband momentum, and margin expansion. The brokerage expects 11% EBITDA growth in FY26 and sees the AGM as a key event, where updates on a possible Jio listing and tariff hikes could emerge. Nuvama: Buy | Target Price: ₹1,767 Nuvama is the most bullish among the lot, seeing a 20% upside. It views RIL's New Energy ecosystem as the company's next multidecadal growth engine, with key milestones like a fully integrated 10GW solar facility by FY26, GH2 production before the FY27 PLI deadline, and major cost advantages through captive power. Despite a Q1 EBITDA miss, Nuvama sees long-term value from margin-expanding investments across energy and petrochemicals. HSBC: Buy | Target Price: ₹1,630 HSBC reiterated Buy , estimating a 10% upside. It noted that Q1 earnings were supported by a one-time share sale, with operational performance slightly weak due to lower contribution from O2C and Retail. However, the brokerage remains optimistic on the emerging potential of Air Fibre, the retail turnaround, and RIL's push into the New Energy sector. Nomura: Buy | Target Price: ₹1,600 Nomura maintained Buy with an 8% upside, even after cutting its FY26/FY27 PAT forecasts by 1%/10%. It sees three major growth triggers: the New Energy ramp-up, Jio tariff hikes, and a potential IPO of Jio, though now delayed beyond 2025. Net debt and capex remained under control, offering financial stability for future investments. Morgan Stanley (MS): Overweight | Target Price: ₹1,617 Morgan Stanley remains Overweight with a 10% upside, despite stating that Q1 results lacked the growth confidence it had hoped for. It pointed to multiple misses in Retail and Refining, but highlighted strong telecom performance, exploration EBITDA beat, and improved balance sheet metrics, including flattish net debt and reduced capex. Macquarie: Outperform | Target Price: ₹1,500 Macquarie has a more tempered view, with a Target Price of ₹1,500 , suggesting a 2% upside. It said the Q1 earnings 'optically' beat estimates due to one-off investment gains, while underlying performance showed strength in Jio, lull in Retail, and gradual recovery in O2C. The brokerage sees long-term optionality in the New Energy, Retail, and Jio segments over a three-year horizon. Verdict All six brokerages—Jefferies, Nuvama, HSBC, Nomura, Morgan Stanley, and Macquarie—maintain a positive or constructive stance on RIL. Most are betting on long-term structural drivers like New Energy, telecom monetisation, and continued retail expansion to unlock value, even as short-term performance remains mixed due to macro and segment-specific headwinds. Brokerage Call Summary: Brokerage Rating Target Price (₹) Implied Upside (%) Nuvama Buy 1,767 +20% Jefferies Buy 1,726 +17% HSBC Buy 1,630 +10% Morgan Stanley Overweight 1,617 +10% Nomura Buy 1,600 +8% Macquarie Outperform 1,500 +2% Disclaimer: The brokerage views expressed above are based on publicly available reports and do not constitute investment advice. Readers are advised to consult a certified financial advisor before making any investment decisions. Ahmedabad Plane Crash News desk at
Daily Tribune
3 days ago
- Automotive
- Daily Tribune
Ford Unveils All-Electric Bronco
TDT | Agencies The New Energy SUV model is for Chinese market The Ford Bronco, one of America's most iconic SUVs, is now going electric. Ford has officially revealed the Bronco New Energy, an electrified version of the off-roader, which will initially be available only in China. The Bronco New Energy will be offered with two powertrain options — a fully electric (EV) and an extended-range electric vehicle (EREV). Unlike the ladder-frame original, the Bronco EV adopts a larger unibody design and features battery technology supplied by BYD. This new five-seater SUV measures 5,025 mm in length, 1,960 mm in width, and 1,815 mm in height, with a wheelbase of 2,950 mm. Design-wise, it bears resemblance to the Bronco Sport and includes a tailgate-mounted spare tyre. The fully electric version houses a 105.4 kWh battery pack, offering a claimed range of 650 km under the CLTC cycle. It features an all-wheel-drive setup powered by dual electric motors that generate a combined output of 311 BHP and a top speed of 170 km/h. The extended-range version combines two electric motors with a 1.5-litre petrol engine producing 147 BHP. As an EREV, the engine does not drive the wheels but serves as a generator to recharge the 43.7 kWh battery or support the motors. This version can travel 220 km on electric power alone, with a total range of up to 1,220 km when factoring in the petrol engine. The Bronco New Energy will be built by Jiangling Motors Corporation (JMC), Ford's local joint venture partner in Jiangxi province. The SUV is expected to hit the Chinese market in the fourth quarter of this year.
Top Gear
6 days ago
- Automotive
- Top Gear
Wait, what? China's getting an all-electric Ford Bronco, and this is it
First Look Ford gives its boxy new Bronco a load of electricities Skip 7 photos in the image carousel and continue reading God bless online translation services, is all we can say, because the communication around this new Ford Bronco 'New Energy' is sublime. Welcome to what Ford China calls 'the most beautiful square box'. It is square. And it does resemble a box. The 'most beautiful'? Jury's out, but New Bronco certainly remains a looker. And now Ford has filled its cool square box with electricities exclusively for the Chinese market. Advertisement - Page continues below Well, electricity and fuel, because Chinese consumers will be offered – we think – a pair of powertrain options. One's a full-fat electric car, fitted with a giant 105.4kWh 'super-charged' battery pack offering 'high-voltage fast charging technology' and the promise of up to 404 miles (650km) of range. There's another one, a range-extender that marries a smaller battery to an engine – at least we think it's an engine – allowing for a decent electric-only distance. As the translation explains, 'among the same level of square boxes, the extended-range version is equipped with the largest 43.7kWh battery in its class'. They're really going in on this 'square box' thing, huh. You might like Anyway, the range extender Bronco claims 137 miles running purely on electricity, or 758 when both fuel and battery are fully topped up. You will not need more, trust us. And trust us that it's one of the cooler-looking electric off-roaders. It's still a Bronco, but different: a new headlight and grille setup, a funky vent at the lip of the bonnet, chunky sides and arches, a really very squared-off, you might say 'box-like' silhouette, and a dandy new set of wheels. Advertisement - Page continues below Ford of China said it packs in 'laser radar and 30+ high-precision sensors/cameras' for lots of assisted driving and a 'smart cabin' experience. Which all sounds very good and worthy, if only we hadn't got stuck on the frickin' lasers bit. We've not been shown pictures of the interior as yet, but are assured 'the smart cockpit has preset multiple scene modes such as naps, pets, and camping overnight'. Which sounds… fun. 'New Energy is not just a car,' adds Ford, 'but also a universal key to break the boundaries of your life!', and is all in on the unbridled enthusiasm and positivity emanating from this beautiful square box. More as we get it. Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox.
Time of India
10-07-2025
- Business
- Time of India
Reliance Industries shares recede after testing 52-week high range: Is it a breather or trend reversal?
After staging a sharp 24% rally in 2025 and nearing record highs, shares of Reliance Industries Ltd (RIL) have begun to retreat, a move that comes amid growing investor unease over delayed IPO timelines and signs of near-term fatigue on the charts. Tired of too many ads? Remove Ads Technical signals flash mixed trends IPO delays weigh on sentiment Tired of too many ads? Remove Ads New Energy bets offer long-term upside Eyes on Q1 results as next trigger After staging a sharp 24% rally in 2025 and nearing record highs, shares of Reliance Industries Ltd (RIL) have begun to retreat, a move that comes amid growing investor unease over delayed IPO timelines and signs of near-term fatigue on the charts. The stock, once within 1% of its 52-week peak, has now slipped nearly 6% from that level, raising the question: is this a healthy pause or the start of a trend reversal?On Thursday, July 10, RIL shares were trading 0.7% lower at Rs 1,508.10 on the BSE. The slide comes just a day after the stock fell nearly 2% on Wednesday, July 9, following a Reuters report that Reliance Jio Platforms had shelved its widely anticipated IPO for 2025, with Reliance Retail's listing also pushed further out. While long-term fundamentals remain intact, powered by a pivot to green energy and rising Street targets, the short-term picture is looking more the pullback, RIL remains above six of its eight key simple moving averages, signalling bullish momentum over the medium term. However, it has slipped below its 5-day and 10-day SMAs, indicating bearish undertones in the immediate Relative Strength Index (RSI) stands at 62.2, suggesting the stock is neither overbought nor oversold. The MACD, at 29.3, continues to hover above both the center and signal lines, reinforcing a broadly positive recent cooling in the stock follows a report on July 9 that said Reliance Jio Platforms, valued at over $100 billion, will not go public this year. The company aims to 'further grow revenue and its subscriber base before hitting the public markets,' said sources quoted in the report. Jefferies and IIFL peg Jio's valuation at $136 billion and $111 billion, setback has compounded concerns around Reliance Retail's listing, which is now unlikely before 2027 or 2028. Operational challenges and underwhelming metrics like earnings per square foot have prompted RIL to restructure its Rs 11,500 crore FMCG business into a standalone unit called New Reliance Consumer Products Ltd. According to the NCLT's June 25 order, the move aims to bring 'specialised and focused attention' to the business and attract 'a different set of investors.'Brokerages, however, remain bullish on RIL's longer-term prospects. Nuvama has assigned the Street's highest target of Rs 1,801, citing the company's aggressive New Energy push. RIL has operationalised its first 1GW Heterojunction Technology (HJT) solar module line and plans to scale this to 10GW by early 2026.'RIL's modules business (20GW capacity) yields an EV of $20bn, which could trigger a valuation re-rating for RIL — similar to the trend seen post-RJIO's launch in 2017,' wrote Nuvama's Jal Irani and others. The brokerage expects New Energy's PAT to grow at a 140% CAGR over FY26–30, contributing 9% of total PAT by which has a Rs 1,650 target on the stock, sees the upcoming Q1FY26 results later this month as a potential catalyst. 'Reliance Industries is entering into an exciting period, beginning with its 1QFY26 earnings, where we expect to see notable improvements in KPIs across its key businesses,' said analyst Vikash Kumar added 2.6 million mobile subscribers in April, and broadband additions, including AirFiber, could total 9–10 million in Q1, surpassing the full-year FY25 count. Meanwhile, operational streamlining in retail is expected to translate into high-teens EBITDA growth, and CLSA's gross refining margin (GRM) tracker points to a sequential gain of $1.1/bbl in the Oil-to-Chemicals Reliance's recent pullback marks the start of a longer consolidation or simply a breather ahead of fresh catalysts will likely depend on how the July earnings and New Energy ramp-up unfold in the months ahead.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
