If you’re interested in future share price target for Reliance Communications, you’ve come to the right place. Before we explore the stock’s future prices, let’s get to know the company, its history, and some technical basics.
About Reliance Communications Limited
Reliance Communications Limited is a leading provider of telecommunications services in India. The company offers a comprehensive range of wireless, wireline, and broadband services to consumers and businesses in the country.
Reliance Communications Limited also provides enterprise services, including data center and managed services, software-as-a-service, and cloud computing solutions. The company has a presence in more than 200 countries and serves over 1.5 billion customers around the world.
Fundamentals of Reliance Communications
Let’s look at the fundamentals of Reliance Communications, based on which we can get a clear understanding of the expertise in the technology sector.
- Current Market Cap: The current market cap of Reliance Communications as of July 30 2022, is ₹ 2,435.94 Cr.
- P/E Ratio: The current price to earning ratio of Reliance Communications is 90.52.
- Sales Growth: Sales growth over the period of time for Reliance Communications is -9.40%.
- Profit Growth: Profit growth is around -24.47 % over the period of time
Reliance Communications Price Target Details
We have done a complete analysis of Reliance Communications and have come up with its share price targets for upcoming years.
Note: These price targets of “Reliance Communications” is only for reference purpose only, this prediction is only if there are positive market sentiments, and any uncertainties in the company or global market condition is not covered in this analysis.
|Year||Reliance Communications Share Price Targets (₹)|
Reliance Communications share price target 2023
After analysing the chart deeply by taking the monthly time frame analysis on the trading view chart of Reliance Communications we found,
The target share price of Reliance Communications for the year 2023 will be ₹2.5
Reliance Communications share price target 2024
The target share price of Reliance Communications for the year 2024 will be ₹0
Reliance Communications share price target 2025
The target share price of Reliance Communications for the year 2025 will be ₹0
Reliance Communications share price target 2026
The target price of Reliance Communications for the year 2027 will be ₹0
Reliance Communications share price target 2027 to 2030
The target share price of Reliance Communications for the years 2027, 2028, 2029, and 2030 will be ₹9.8, ₹11.5, ₹13.5, and ₹20 respectively.
Technical Analysis of Reliance Communications Ltd (RCOM)’s Recent Price Movements
As of September 22, 2023, the current stock price of RCOM is ₹1.75.
- Initial Target: ₹2.00
- Based on the 52-week high and current momentum.
- Intermediate Target: ₹2.30
- If the stock breaks the initial target, it could aim for this level.
- Advanced Target: ₹2.50
- This would be close to the 52-week high, a strong resistance level.
- Initial Target: ₹1.50
- A drop below the current price could lead to this level.
- Intermediate Target: ₹1.20
- Further decline could bring the stock to this level.
- Advanced Target: ₹1.00
- This is the 52-week low and a strong support level.
Explanation of Targets
- Why Bullish: The company has a market cap of ₹484 Cr and has been showing some signs of recovery.
- Why Bearish: The company has high debtors of 219 days and a poor sales growth of -36.4% over the past five years.
Quarterly Sales Data
Here’s a table representing RCOM’s quarterly sales data:
|Quarter||Sales (in Rs. Crores)|
RCOM is currently trading at a low price, and its financials are not very promising. The company has been struggling with sales and has high debtors. However, there’s some potential for short-term gains if market sentiment turns favourable.
Drawing upon the data and metrics analyzed, RCOM is currently trading at ₹1.75, which is close to its 52-week low of ₹1.00. The 52-week high stands at ₹2.62. The quarterly sales data shows a consistent decline from ₹212 crores in Jun 2020 to ₹111 crores in Mar 2023. This downward trend in sales, coupled with high debtors and poor sales growth of -36.4% over the past five years, paints a concerning picture.
Given these numbers and the technical analysis conducted, the future of RCOM appears to be uncertain and risky. The declining sales and poor financial metrics suggest that the company may continue to struggle in the near future. While there are potential bullish targets, they seem to be more of short-term possibilities rather than indicators of long-term growth or stability.