Centrum Broking: Reliance Industries - Creating A Future Ready Ecosystem

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Centrum Broking Report.Reliance Industries chairman Mukesh Ambani in the 43rd AGM of the company gave valuable updates on recent business developments and growth roadmap going forward. He emphasised that the three pillars for value creation remain the Jio platforms business, the new commerce business as part of RIL retail and the gradual transformation of the O2C business to a new materials and new energy business. Overall, with zero net debt objective having been achieved ahead of time, game changing partnerships with the big three (Facebook, Google and Microsoft) and expectations of similar value unlocking now starting in retail, RIL stands on a strong footing over the next 5-7 years.We have raised estimates of Average Revenue Per Unit, lowered costs for Jio (based on management feedback) while for retail we now move to DMart multiples as the benchmark as we do not see any other comparable story for RIL – resultant of these revisions, target price raised to Rs 2,015 per share, 9.3% upside. We note that looking beyond FY22E for retail and building a nominal share of traditional retail by FY25E can deliver a bull case and blue sky value of Rs 767 to 862 per share for retail, adding Rs 114 to 209 per share to RIL SoTP.Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Centrum Broking: Reliance Industries - Creating A Future Ready Ecosystem

Centrum Broking: Reliance Industries- Creating A Future Ready Ecosystem

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