Reliance shares rise after in-line Q3 earnings? Should you buy, hold or sell RIL stock?

Reliance shares rose half a per cent to Rs 2,454 on NSE after the Mukesh Ambani-led company reported in-line Q3 numbers. The oil-to-telecom major’s net profit declined 15%

on-year to Rs 15,792 crore for the quarter ended 31 December 2022. RIL’s telecom arm Reliance Jio and retail arm Reliance Retail each posted healthy double-digit growth in

revenues on-year as more consumers used their services. Jio increased its revenue by 18.87% on-year to Rs 22,998 crore in Q3FY23, while Reliance Retail Ventures clocked a 17%

on-year jump in revenue from operations at Rs 67,634 crore in the quarter. RIL board also approved raising Rs 20,000 crore through non-convertible debentures (NCDs). So far this

year, RIL share price has tumbled more than 5%. However, the stock has rallied 172% in last five years. Also ReadShare Market LIVE: Sensex, Nifty stare at positive start;

RIL, ICICI Bank shares to react to Q3 results Should you buy, hold or sell Reliance shares? Emkay Global: Buy Target price: Rs 2,750 The brokerage values

RIL on an SOTP basis with core segments using EV/EBITDA and upstream, new energy, and other segments using DCF (+30% premium)/EV-IC/EV-Sales. “We retain our multiples for various

segments, except retail. We have built in Rs 1.2-1.3 lakh crore annual capex run rate due to which our net debt estimate has increased. We roll over from Sep-24 to Mar-25,” it

said. Analysts at Emkay Global maintain a ‘Buy’ rating on RIL shares on reasonable valuations. Adverse commodity/currency, B2C competition, policy, and new business among the key

risks.