Company Update - Reliance Industries - ICICI Direct

Posted On : 2022-07-04 20:25:25( TIMEZONE : IST )

Company Update - Reliance Industries - ICICI Direct

Government of India has imposed additional excise duty of Rs. 13/litre on diesel exports. Also, excise duty on petrol and ATF exports was raised by of Rs. 6/litre

- RIL has total refining capacity of 68 MMTPA and one of the refineries is export focused

- Product cracks of diesel, petrol and ATF continue to trade at elevated levels. While the company is expected to report a sharp surge in profit in Q1FY23E, excise duty on product exports is likely to limit gains in the refining segment, going ahead, as per our understanding

- The government will review the excise duty for recalibration every 15 days. The strategy of the company regarding export volume and global refining scenario will be the key monitorable in the near term

Key triggers for future price performance

- Increment value accretion from the 'digital ecosystem' that will be captured at the Jio Platforms (JPL) level

- Steady FCF generation in the retail segment would enable the company to maintain debt at lower levels and improve its ability to invest in future inorganic opportunities

- Steady cash flow in O2C segment is expected to continue amid favourable global scenario and will enable RIL to invest in new energy verticals

For details, click on the link below: Link to the report

Shares of Reliance Industries Limited was last trading in BSE at Rs. 2413.95 as compared to the previous close of Rs. 2408.95. The total number of shares traded during the day was 893090 in over 55047 trades.

The stock hit an intraday high of Rs. 2441.85 and intraday low of 2367.00. The net turnover during the day was Rs. 2155423580.00.

Source : Equity Bulls


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