RIL shares flat after in-line Q3 results. Buy, sell or hold?
Shares of India’s largest company by market value Reliance Industries (RIL) were trading flat with a negative bias in the morning session after the Mukesh Ambani-led company reported largely in-line earnings in Q3.
RIL’s O2C EBITDA fell 14% QoQ to Rs 140.6 billion due to maintenance in multiple units combined with lower cracks & deltas. Jio’s EBITDA was up 1.4% QoQ to Rs 142.6 billion, while Retail EBITDA rose 8% QoQ to Rs 62.7 billion.
