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RIL says O2C biz restructuring to attract pool of investor capital SECTIONS Last Updated: Jun 02, 2021, 08:11 PM IST Share Synopsis RIL is courting Saudi Aramco to buy a minority stake in the oil-to-chemical business, talks for which are still going on. Reliance Industries shares had ended 1.8% higher at Rs 2,207 on NSE earlier on Wednesday. Related MUMBAI: Reliance Industries Ltd believes that the restructuring of its oil-to-chemical business will facilitate value creation and attract a dedicated pool of investor capital in the company, the conglomerate’s annual report for 2020-21 showed. “O2C’s goal is to maximise crude to chemicals conversion and create a sustainable growth business. The scheme received an overwhelming support from our shareholders and creditors,” the company said. ....
RIL gains 11% in 2 days: What s driving the rally? SECTIONS Share Synopsis In its report, Jefferies expects 50 per cent upside in the refiner s petchem Ebitda, if the prevailing momentum sustains. he brokerage added that sustained strong performance by the petrochemical vertical will improve the likelihood of O2C business stake sale in FY22. Related NSE New Delhi: Shares of Reliance Industries extended the rally, climbing 5 per cent on Monday as an upbeat report by Jefferies bolstered the confidence in oil-to-telecom behemoth among investors. The counter had gained 6 per cent on Friday. In its report, Jefferies expects 50 per cent upside in the refiner s petchem Ebitda, if the prevailing momentum sustains. The brokerage added that sustained strong performance by the petrochemical vertical will improve the likelihood of O2C business stake sale in FY22. ....
Jefferies said a sustained strong performance by the petrochemical vertixal will improve the likelihood of O2C business stake sale in FY22 and may lead to a reversal of the 40 per cent underperformance in the Nifty pack. ....