Reliance Industries (Buy, TP: INR 1,700, +22%) Q3 FY26 Quick Take: FWA remains strong
Reliance Industries reported Q3 results on Friday. Revenue growth accelerated to 10.5%, mainly driven by O2C. However, retail growth slowed materially. Overall EBITDA grew 6.1% YoY, with margins slightly dipping to 18.9% from 19.5%. Management confirmed that Jio’s IPO "should happen in the next few months for sure".
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