Reliance Industries Shares Fall Over 1% Ahead Of Q2 Results; Check RIL Share Price Update Here

The share price of Reliance Industries Ltd (RIL) traded 1.11% lower at Rs 2233 per share at 12:50 pm IST on Thursday. The weak performance of RIL shares was seen just a day before the diversified conglomerate is set to announce its results for the Quarter ending September 30, 2023. The decline in the share price of Reliance Industries in today's trade is attributed to negative trading on Dalal Street where both Sensex and Nifty 50 slumped over 1%.

Investors are closely awaiting Reliance's Q2 results as the Mukesh Ambani-owned conglomerate is India's top company in terms of market capitalization.

Analysts expect RIL to report double-digit growth (year-on-year) in net profit for the quarter under review. RIL's Retail EBITDA is expected to see a jump with higher foot traffic. Oil and Gas EBITDA will likely improve with increased gas output, while Jio's EBITDA is also likely to increase with the addition of new subscribers.
The company's oil to chemicals (O2C) and exploration and production (E&P) segments are expected to report strong growth for the quarter under review.

For Reliance's Oil-To-Chemicals (O2C) segment, a robust refining segment is likely to offset the feeble petchem segment. This is because petrochemical prices slumped 1% sequentially and 13% on a YoY basis in the second quarter of 2023-24.

Kotak Institutional Equities expects RIL's standalone EBITDA to improve 7% QoQ, reflecting resilient GRM and improvement in petchem margins, higher E&P profitability on slightly higher gas production.

RIL's EBITDA for R-Jio is estimated to increase 2% qoq, largely driven by 5.7 mn overall net adds, qoq stable blended ARPU at Rs 178 as subscriber mix improvements and rising contribution from FTTH are offset by lower days in the quarter (90 versus 92 in 3Q). The firm expects Reliance Retail's revenue/EBITDA to increase by ~2% qoq, driven by increased store footprint and the benefits of operating leverage.

Meanwhile, with continued subscriber losses at Vodafone Idea, R-Jio is expected to see a rise in market share.
Bears tightened their grip on Dalal Street today eroding over Rs 5 lakh crore from investors' wealth in a single day. At 1:13 pm IST today, Sensex was down 1.16% at 63,307.38 points.