RIL shares tumble ahead of Q4 earnings. Good buying opportunity?

Shares of Reliance Industries Ltd fell in Thursday's trade ahead of the oil-to-telecom major's March quarter results on Friday, 21 April. Here are 5 things to watch out for in RIL results - Profitability RIL's consolidated PAT is expected to increase by 7 per cent sequentially to ₹16,960 crore due to higher Oil-to-chemicals earnings and decent growth from Jio and retail business. We expect steady Jio performance, while retail segment profitability should be resilient," said Avishek Datta – Research Analyst, Prabhudas Lilladher Pvt Ltd. Key monitorable Brokerage Motilal Oswal said further clarity on ₹75,000 crore announcements in the new energy business, growth in retail store additions, and any pricing action in telecom segment would be key monitorables. FMCG RIL's aspirations in mainstream FMCG verticals has gained significance, given its access to the retail distribution base, backend infrastructure and strong marketing network, said brokerage Emkay Global. JM Financial has maintained a ‘Buy’ rating on the RIL stock with a target price of ₹2,900 as the stock is closer to its bear-case valuation of ₹2,000 per share, while it expects RIL's EPS to grow at a strong 13-15 per cent CAGR over the next 3-5 years given its industry leading capabilities across businesses.