Naveen Kulkarni of Axis Securities PMS says Jio s earnings look good overall, with a slight beat in the O2C business and strong subscriber additions. However, the ARPU number was slightly lower than expected, indicating a need for tariff hikes to improve average revenue per user. The timing of such hikes remains uncertain. In terms of stock expectations, there is a significant upgrade in Jio s earnings, but it is difficult to determine the impact on the market in the short term.
Talks between both the two giants have been going on for the past two years. The delay was caused due to Covid-19 pandemic and falling crude oil prices. If the deal is signed, it'll be Saudi Aramco's first all-stock deal since the IPO
Bank of America analysts said that Aramco would offer more than the promised $75 billion as dividend in this year. Aramco is now gearing up for a second public offering of shares