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Reliance Industries Q1 Results Review - Tepid Start To FY25: ICICI Securities

Despite earnings growth, the brokerage's SoTP-based target price of Rs 2,954 implies ~5% downside from here, as it sees return ratios and FCF yields remaining subdued over the next 2-3 years.

<div class="paragraphs"><p>Reliance Industries Ltd. (Source: Company website)</p></div>
Reliance Industries Ltd. (Source: Company website)
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