After six days of persistent decline, Reliance Industries came to the rescue of the market by advancing ~4%. Commenting on the same, Amar Ambani, Head of Research, IIFL, said, “Reliance Industries is expected to deliver a strong performance in Q3 FY16 on the back of a 15% improvement in GRMs on a sequential basis. Over the next three years, we expect the core business of refining and petrochemicals to double the combined EBIDTA driven by commencement of large scale projects such as off gas cracker and petcoke gasification. Its retail business is gaining traction and is likely to deliver consistent improvement in topline and profitability as it goes the digital way. Telecom operations are expected to be launched by end of the fiscal and we estimate it to turn EBIDTA positive in three years time frame. Domestic E&P and Shale gas business are expected to be under pressure but have limited contribution to revenues and profitability at consolidated level. Valuations are below historic
| Subscribe To Our Free Newsletter |
