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reliance share price: RIL AGM might be the icing on the cake for shareholders


The key trigger to watch out is
Reliance AGM and see if there are specific announcements related to its oil-to-chemicals business, says Sushil Choksey of Indus Equity Advisors. Edited excerpts from an interview:
What do you make of the big up move in Reliance shares in a matter of two days? What did we miss out over there?
RIL share prices peaked out around September-October and was underperforming. Within 14,300 to the current range, Nifty might have moved 2-3 times but Reliance kept sliding from the peak by almost Rs 350.
Now look at the triggers for the stock. Its petrochemical business is a play on the consumption story in India. O2C business is also a play on the consumer side. Globally, fuel demand is on the rise and refineries in the US are facing disruption. ....

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Reliance Infrastructure sells Santacruz centre to YES Bank
Reliance Infrastructure Limited and YES Bank Limited announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank. The transaction value is Rs 1,200 crore.
Entire proceeds from the sale of Reliance Centre, Santacruz is utilized only to repay the debt of YES Bank. Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days.
Rinfra has closed three major transactions in the last 90 days namely sale of road assets Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz. ....

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reliance share price: Jefferies initiates coverage on Reliance with buy rating, sees 25% upside


MUMBAI: Jefferies has initiated coverage on
Reliance Industries with a buy rating and a target price of Rs 2,600 as it sees the oil-to-telecom conglomerate as a proxy for India s consumption growth story.
The brokerage said that a transition from B2B to B2C and a potential stake sale in the O2C business will usher in the next investment cycle in Reliance Industries.
The brokerage said Jio should further consolidate its leadership position with 25% EBITDA CAGR and gain 450 bps revenue market share to 42% by FY23.
With organized retail only 12% of overall retail and Reliance Retail bigger than the next 10 retailers combined, it is in pole position for growth leadership, the brokerage said. Their contribution in consolidated EBITDA should increase from 37% in FY20 to 49% in FY23, said Jefferies. ....

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