JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - Prabhudas Lilladher has upgraded Reliance Industries (NSE:RELI) (NS:RELIANCE) from Hold to Accumulate, while raising its price target to INR1,555.00 from INR1,497.00.
Reliance Industries reported consolidated EBITDA of Rs429.1 billion, representing an 11% year-over-year increase but a 2.1% quarter-over-quarter decline, falling short of analyst expectations of Rs451 billion.
The company’s adjusted profit after tax reached Rs180.5 billion, showing 19% growth year-over-year but declining 7% quarter-over-quarter, below the analyst estimate of Rs205.6 billion.
Reliance’s standalone EBITDA decreased 8% quarter-over-quarter to Rs131.7 billion despite improvements in benchmark GRM and petrochemical spreads, attributed to partial shutdown and possible inventory losses, while retail EBITDA grew 11% year-over-year to Rs60.4 billion.
Jio, the company’s telecom division, reported an ARPU increase from Rs206.2 in Q4FY25 to Rs208.8 following a tariff hike, along with adding 9.9 million subscribers to reach a total of 498.1 million, while the company expects its cell manufacturing to be commissioned within 1-2 quarters and complete new energy ecosystem commercialization in 4-6 quarters.
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