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Reliance Industries: Net zero debt achieved ahead of schedule; strong upside potential

June 19, 2020 / 01:53 PM IST
Reliance Industries: Net zero debt achieved ahead of schedule; strong upside potential

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

After the announcement of the latest deal with The Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, Jio Platforms has raised a total amount of Rs 1,15,693.95 crore. This is the eleventh bulge-bracket investment in the Reliance Industries Ltd (RIL) subsidiary in less than nine weeks. PIF has picked up a 2.32 percent stake for Rs 11,367 crore in Jio Platforms. This assigns an equity value of Rs 4.91 lakh crore and an enterprise value of...

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