Reliance doesn’t need that money at all is my guess, although like I said that is the biggest risk. Management is not exactly minority shareholder friendly.
Further, to correct, Operating profit from business is ~150-200 Cr, but earnings are coming mostly from treasury gains since depreciation eats up all the operating profits. However, this is also the reason that operations are generating good cash, and hence earlier logic of valuing operating business over and above cash & investments should still hold true in my opinion.
What do you all think? Request your inputs
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