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Reliance Share Price: The stock of Reliance Industries, owned by the country’s richest industrialist Mukesh Ambani, has seen a strong rise on Friday, January 17, 2025. With a jump of 4.73 percent, Reliance’s stock has reached Rs 1326 and the reason for this is the excellent results of Reliance Industries declared for the third quarter of the financial year 2024-25. After this result, many brokerage houses have advised investors to invest in Reliance stock.
Strong rise in Reliance shares possible
There is a huge fall in the stock market but the stock of Reliance is rising. After the third quarter results are out, Nuvama has asked to buy the stock for a target price of Rs 1673. Foreign brokerage house Jefferies has asked to buy Reliance stock with a target price of Rs 1660. CLSA has given a target of Rs 1650. DAM Capital target price has been increased to Rs 1550. IIFL has asked to buy the stock for a target price of Rs 1729. Morgan Stanley has given a target of Rs 1662. That means Reliance shares can give returns of up to 37 percent from the current level.
Got support from excellent results
On January 16, Reliance announced the results for the third quarter of October-December in which the company has made a profit of Rs 18540 crore in this quarter, which was Rs 17265 crore in the same period last year. There has been a spectacular jump of 7 percent in profits on year-on-year basis. The revenue of Reliance Industries has been Rs 2.40 lakh crore. Whereas in the third quarter of the financial year 2023-24, the company’s revenue stood at Rs 2.25 lakh crore.
Waiting for Jio Infocom IPO!
Due to the excellent results of Jio Infocomm, the stock of Reliance has also increased. Jio Infocomm has made a profit of Rs 6477 crore in the third quarter of the financial year 2025-25, whereas last year it had made a profit of Rs 5208 crore. Due to mobile tariff hike in the second quarter, the results of Jio Platforms have been excellent. The company’s average revenue per user has increased to Rs 203.3. Reliance Industries can bring IPO of Jio Infocom in the year 2025. Brokerage houses are bullish on the stock due to the possibility of value unlocking, due to which the stock is looking bright.
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