Company Update - Reliance Industries - ICICI Direct

Posted On : 2021-10-12 21:10:39( TIMEZONE : IST )

Company Update - Reliance Industries - ICICI Direct

RIL announced two acquisitions in renewable energy space.

  • It acquired 100% stake in REC Solar Holding. The acquisition value for the deal was at EV of US$771 million
  • It has also acquired 40% stake (post money) in Sterling & Wilson
  • On valuation front, strong subscriber addition for Jio, increase in global gas prices and healthy demand in retail segment also led to higher multiples

Key triggers for future price performance
  • Increment value accretion from the 'digital ecosystem' that will be captured at the Jio Platforms (JPL) level
  • Steady FCF generation in the retail segment would enable the company to maintain debt at lower levels and improve its ability to invest in future inorganic opportunities
  • Stake sale in O2C segment to strategic global player will unlock value and enable RIL to invest in new energy verticals

For details, click on the link below: Link to the report

Shares of Reliance Industries Limited was last trading in BSE at Rs. 2668.55 as compared to the previous close of Rs. 2651.15. The total number of shares traded during the day was 129947 in over 8366 trades.

The stock hit an intraday high of Rs. 2682.75 and intraday low of 2641.00. The net turnover during the day was Rs. 345084241.00.

Source : Equity Bulls


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