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Reliance Industries' shares decline ahead of Q4 results; here’s what to expect?

Reliance Industries' shares decline ahead of Q4 results; here’s what to expect?

Overall, market sentiment dampened on Dalal Street on April 6 following weak global cues.

According to YES Securities, RIL may post 41.70 per cent and 30.50 per cent year-on-year (YoY) growth in revenue and net profit, respectively, in the March quarter. According to YES Securities, RIL may post 41.70 per cent and 30.50 per cent year-on-year (YoY) growth in revenue and net profit, respectively, in the March quarter.

Overall, market sentiment dampened on Dalal Street on April 6 following weak global cues.Shares of Reliance Industries (RIL) declined over 1 per cent in the morning trade on Friday ahead of its financial results for the quarter ended March 31. Overall, market sentiment dampened on Dalal Street on April 6 following weak global cues.

However, market watchers believe that the energy-to-telecom behemoth RIL may report double-digit growth in the top line and bottom line in Q4FY22 due to stronger refining margins. The company will announce its results post-market hours. The scrip traded 1.31 per cent down at Rs 2,606 at around 11.11 am (IST), while the benchmark BSE Sensex was down 1,011 points, or 1.82 per cent, at 54,690 at around the same time.

According to YES Securities, RIL may post 41.70 per cent and 30.50 per cent year-on-year (YoY) growth in revenue and net profit, respectively, in the March quarter.

Kotak Institutional Equities also foresees growth of 32 per cent and 43.80 per cent in adjusted profit after tax and net sales, respectively, on a YoY basis. It further added that EBITDA may increase 34.60 per cent on a YoY basis and 5.8 per cent auarter-on-quarter.

Commenting on the Friday’s weakness in the equity market, VK Vijayakumar, chief investment strategist, Geojit Financial Services said, “The single important factor roiling global equity markets is the reemergence of inflation as a major threat and market’s scepticism over the central banks’ ability to contain inflation without triggering a sharp economic slowdown.”

“Nasdaq is at one-year lows and S&P 500 appears to be moving in that direction. India cannot remain uncoupled from this trend particularly when FPIs are on a selling spree and has more firepower to remain bearish,” Vijayakumar said, adding investors should remain calm in these turbulent times without taking aggressive positions.

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Also read: Reliance Industries to announce Q4 results tomorrow; here’s what to expect 

Published on: May 06, 2022, 11:40 AM IST
Posted by: Mehak Agarwal, May 06, 2022, 11:36 AM IST