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Reliance Industries Q4FY21: Strong contribution from digital businesses likely to offset probable weakness in cyclical sectors

RIL reported a strong sequential improvement for its Oil derivative and retail segments. Petrochemicals exhibited elevated product spreads and in the case of retail, the trend of sequential recovery continued across consumption baskets. Jio continued to report strong numbers despite lower ARPU

Reliance Industries Q4FY21: Strong contribution from digital businesses likely to offset probable weakness in cyclical sectors

RELIANCE Industries RIL

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

   Reliance Industries (RIL) (CMP: Rs 1,994; Mcap: Rs 12,64,369 crore) reported a strong sequential improvement for its Oil derivative and retail segments. Petrochemicals exhibited elevated product spreads and in case of retail, the trend of sequential recovery continued across consumption baskets. Retail store opening was higher than in the entire earlier nine-month period, indicating aggressive expansion. Jio continued to report strong numbers despite lower ARPU (average revenue per user), on account of traction in digital platform services, launch of affordable plans for small...

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