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Reliance Industries (Credit Suisse) Implied E&P valuations now well below the price BP has paid |
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Low implied expectations;Where is the disconnect?;The E&P valuation gap may take time to fix | Date | Rating | Target Price | Recommendation Price | Broker house | | 2 Aug 2011 | outperform | 1057 | 827 | Credit Suisse Report | |
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Reliance Industries (Credit Suisse) The Asian Refiner - Diesel cracks continue to ease |
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Refining margins down;Diesel cracks weaken, but seasonal strength should start soon | Date | Rating | Target Price | Recommendation Price | Broker house | | 1 Aug 2011 | outperform | 1057 | 828 | Credit Suisse Report | |
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Reliance Industries (Goldman Sachs) 1Q in line; cutting EPS,TP on lower volumes, margin outlook |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 27 Jul 2011 | neutral | 1000 (from 1070) | 882 | Goldman Sachs Report | |
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Reliance Industries (Angel) Strong 1QFY2012 performance |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 26 Jul 2011 | buy | 1180 | 870 | Angel Report | |
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RELIANCE INDUSTRIES (HDFC Securities) Reliance-BP : Putting the CCEA nod in perspective |
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Reliance Industries (Citi) 1Q: No Surprises – Refining, E&P In Line; Petchem Weak |
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In line quarter;Refining – boosted by throughput;Petchem – impacted by weak domestic environment;E&P – production at 49 mmscmd; ramp-up could take 2-3 years | Date | Rating | Target Price | Recommendation Price | Broker house | | 25 Jul 2011 | buy | 1082 (from 1115) | 882 | Citi Report | |
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Reliance Industries (Sharekhan) Q1FY2012 results: First-cut analysis |
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PAT in line with estimate, despite higher sales as margin contracted:
Impressive sales growth driven by refining segment
Operating margins lower than estimated though profit marginally lower | Date | Rating | Target Price | Recommendation Price | Broker house | | 25 Jul 2011 | buy;(Under review) | -- | 882 | Sharekhan Report | |
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Reliance Industries (Deutsche Bank) Reducing valuation on E&P concerns, maintaining Buy |
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Reiterate Buy on valuation support and robust downstream margins;Raising earnings on refining, cutting valuation on E&P;RIL trading at historically inexpensive valuations;SOTP-based target price of INR1060; worsening global economy the key risk | Date | Rating | Target Price | Recommendation Price | Broker house | | 15 Jul 2011 | buy | 1060 (from 1150) | 866 | Deutsche Bank Report | |
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Reliance Industries (JP Morgan) update.2011.Jul.13 |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 13 Jul 2011 | overweight | 1200 | -- | JP Morgan Report | |
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Reliance Industries (Morgan Stanley) Cheap but lacking triggers |
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Downgrade to Equal-weight
Cash flows>Capex plans lead to uncertainty | Date | Rating | Target Price | Recommendation Price | Broker house | | 11 Jul 2011 | equalweight (from Overweight) | 956 (from 1206) | 870 | Morgan Stanley Report | |
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