Clsa On Ril

According to Mr Balanco, Indian markets are going through a consolidation phase so June lows (7,940 on Nifty) are possible again.

Recently Morgan Stanley has upgraded Reliance Industries to overweight with a target price of Rs 1,062 on the share. The brokerage says RIL's profits, which were stagnated for the last five years are now set for a 3-year compounded annual growth rate (CAGR) of more than 15 per cent.

CLSA expects RIL to post a record fourth quarter on expansion in refining margins. Crude oil prices have rebounded above $60 per barrel, which could push up RIL's refining margins

CLSA expected gas output to rise to 48 million standard cubic meters per day by 2020 from current production of less than 14 mmscmd as RIL brings R-cluster and other satellite gas fields in the eastern offshore KG-D6 block into production.

Brokerages have turned positive post this result. Macquarie has maintained outperform on the stock with a target price at Rs 1,294 per share whereas CLSA has maintained buy on the stock with a target price at Rs 1,250 per share. CLSA says the stock could double as ebitda doubles in 3 years.

Deutsche Bank maintained its buy call on the stock with a target of Rs 1,110 per share, while CLSA has an aggressive target of Rs 1,175 on RIL. Goldman Sachs has a target of Rs 1,050 on the stock.

CLSA, which maintained its buy call on Reliance Industries with a target of Rs 1,050, said it expect the company to upgrade reserves.

Global investment bank CLSA maintained its "sell" call on Reliance Communications, India's third-biggest cellular carrier by customers, citing huge debts. The brokerage has a target of Rs 112 on the stock.

Shares in Reliance Communications gained 7.1 per cent, to their highest level since April 18, 2012, after CLSA said several catalysts could help the company to unlock value, including an "inevitable" tower/infrastructure-sharing deal with Reliance Industries for its 4G rollout.

Reliance Industries shares jumped 1.5 per cent in a weak market on Wednesday after brokerage Nomura increased its price target on the stock to Rs 1,000, a 16 per cent upside from current levels of nearly Rs 860.

CLSA says underweight trade on Reliance Industries Ltd is over due to a combination of growth, benign consensus expectations, below-average valuations and buyback support.

According to Mr Balanco, Indian markets are going through a consolidation phase so June lows (7,940 on Nifty) are possible again.

Recently Morgan Stanley has upgraded Reliance Industries to overweight with a target price of Rs 1,062 on the share. The brokerage says RIL's profits, which were stagnated for the last five years are now set for a 3-year compounded annual growth rate (CAGR) of more than 15 per cent.

CLSA expects RIL to post a record fourth quarter on expansion in refining margins. Crude oil prices have rebounded above $60 per barrel, which could push up RIL's refining margins

CLSA expected gas output to rise to 48 million standard cubic meters per day by 2020 from current production of less than 14 mmscmd as RIL brings R-cluster and other satellite gas fields in the eastern offshore KG-D6 block into production.

Brokerages have turned positive post this result. Macquarie has maintained outperform on the stock with a target price at Rs 1,294 per share whereas CLSA has maintained buy on the stock with a target price at Rs 1,250 per share. CLSA says the stock could double as ebitda doubles in 3 years.

Deutsche Bank maintained its buy call on the stock with a target of Rs 1,110 per share, while CLSA has an aggressive target of Rs 1,175 on RIL. Goldman Sachs has a target of Rs 1,050 on the stock.

CLSA, which maintained its buy call on Reliance Industries with a target of Rs 1,050, said it expect the company to upgrade reserves.

Global investment bank CLSA maintained its "sell" call on Reliance Communications, India's third-biggest cellular carrier by customers, citing huge debts. The brokerage has a target of Rs 112 on the stock.

Shares in Reliance Communications gained 7.1 per cent, to their highest level since April 18, 2012, after CLSA said several catalysts could help the company to unlock value, including an "inevitable" tower/infrastructure-sharing deal with Reliance Industries for its 4G rollout.

Reliance Industries shares jumped 1.5 per cent in a weak market on Wednesday after brokerage Nomura increased its price target on the stock to Rs 1,000, a 16 per cent upside from current levels of nearly Rs 860.

CLSA says underweight trade on Reliance Industries Ltd is over due to a combination of growth, benign consensus expectations, below-average valuations and buyback support.