INSUBCONTINENT EXCLUSIVE:
subsequently increased the 12-month share price target to Rs 1,850 from Rs 1,635 earlier, primarily driven by expectations of stronger
growth in the telecom business.
The brokerage said it was upbeat about RIL in view of the higher average revenue per user (ARPU) from
potential tariff increases, coupled with continued strong subscriber addition momentum
margins due to IMO 2020 and accelerating global GDP driving tight diesel markets; continued high growth in consumer-focused businesses,
which we estimate to grow at 50 per cent FY19-22 CAGR; and significant improvement in free cash flow and asset monetisation leading to
for the telecom business and the remaining 4 per cent is driven by the roll forward of debt
We have rolled forward from FY20 to FY21 for the energy business valuation; however, there is no material change in EV of the energy
the highest refining complexity is well positioned to benefit from it.
The brokerage expects GRMs for Reliance Industries to rise sharply