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Prabhudas Lilladher Report
Reliance Industries Ltd. made its first move of foraying into green energy, through twin acquisition of 100% stake in REC Group for $771 million (Rs 57.4 billion) and 40% stake in Sterling and Wilson Solar Ltd. for Rs 36.3 billion.
These are essential building blocks in RIL’s quest to achieve 100 gigawatt of green energy by 2030 and build four giga factories for its green energy venture.
While revenue impact of this acquisition will be back ended, the company has laid first steps in setting the new business and we will incorporate its going forward.
It has also added platform companies like Just Dial, Netmeds and Urban Ladder by creating a strong ecosystem of future growth to better compete with leaders like Amazon, Walmart and Tata (post acquisition of Big basket and 1mg).
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