The King is always a King - Reliance target:2772

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       Reliance reported a 46.3 percent year-on-year rise in consolidated net profit of Rs 17,955 crore for the quarter ended June, which was below analysts' expectations of 25,238.8 crore.

The oil-to-telecom giant reported a 54.5 percent on-year growth in consolidated revenue from operations to Rs 2.23 lakh crore, which was also below Street's estimate of Rs 2.4 lakh crore.

"Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever. I am also happy with the progress of our Consumer platforms," said Chairman and Managing Director Mukesh Ambani in a press statement.

RIL reported a 45.8 percent year-on-year rise in consolidated operating profit to a record high of Rs 40,179 crore for the quarter ended June.

CMP:2502.95  Estimated target:2772 If falls downside target:2296

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