Reliance Industries Share Price Target 2024, 100% Dividend: Is It Time to Buy Mukesh Ambani’s Company Stock?

Shares of Reliance Industries, the conglomerate led by Mukesh Ambani, were trading higher in early deals on Monday. The stock opened at Rs 2,920.85, up 0.61% from its previous close of Rs 2,903. Technical analyst Nooresh Merani gave a BUY recommendation with a price target of Rs 3,200 and a stop loss at Rs 2,850.

Reliance Industries has shown strong growth, with a market value of Rs 19.6 lakh crore, a 33.15% increase over the past year, and 30.40% in the last six months. Over the past decade, the stock has increased by 570.05%, and in the last five years, it has risen by 128.09%.

Regarding its Q4 financial results, Reliance Industries’ consolidated net profit for the quarter ending March 2024 was Rs 18,951 crore, down 2% from the previous year. However, its operational revenue rose by 11% to Rs 2.4 lakh crore from Rs 2.16 lakh crore during the same period last year.

Reliance Industries is known for rewarding its shareholders with dividends. The board recommended a second dividend of Rs 10 per share for fiscal year 2024. Last year, it paid Rs 9 per share, while in 2022, it paid Rs 8 per share. The face value of each Reliance stock is Re 10.

Technical analyst Nooresh Merani also suggested three other stocks: Ashok Leyland, Godrej Properties, and PNB. The targets and stop-loss prices for these stocks are as follows:
– Ashok Leyland: Target Rs 200, Stop Loss Rs 177
– Godrej Properties: Target Rs 2,850, Stop Loss Rs 2,580
– PNB: Target Rs 150, Stop Loss Rs 132

If you’re considering investing in Reliance Industries, these price targets and dividend details might be useful. Always remember to do your own research or consult with a financial advisor before making investment decisions.