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RIL-Intel Deal - Angel Broking

Posted On: 2020-07-03 00:32:14


"With the Intel deal the company has so far raised investments of INR 1,17,588 crore for a 25.1% stake in Jio Platforms from marquee investors like Facebook, Silver Lake Partners, General Atlantic, KKR, Intel etc. Investment by such marquee names in Jio Platforms has reaffirmed our conviction in the company's potential transformation to a digital play from a brick and mortar company. The company well on it's way to achieve a net debt free status by raising INR 1.7lakh cr. through a combination of stake sale in Jio Platforms and rights issue which is leading to a rerating for the company.

We are positive on Reliance Industries Ltd. from a long term perspective as we believe that the digital and retail business will be key growth drivers for the company going forward. Potential listing of the digital and retail business over the next 3-5 years would also lead to significant value unlocking for shareholders in the long run. We also expect the hydrocarbon business to recover in the second half of the year as demand for petro products normalizes. Given no significant capex outlay in the near future, the hydrocarbon segment should generate free cash flows which can be used to fund expansion in other businesses."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1760.55 as compared to the previous close of Rs. 1737.9. The total number of shares traded during the day was 815775 in over 34143 trades.

The stock hit an intraday high of Rs. 1766.8 and intraday low of 1734.4. The net turnover during the day was Rs. 1432394569.


Source: Equity Bulls

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