Reliance Industries-Aramco Deal Cancelled - A Sentiment Dampener: Prabhudas Lilladher
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Prabhudas Lilladher Report
Non consumption of deal is negative; but we don’t rule out more broad based partnership in future.
Recent stock price correction offers an attractive entry point; we expect multiple value unlocking opportunities at play.
Reliance Industries Ltd. and Saudi Aramco decided not to proceed with 20% stake sale in RIL’s Oil to Chemical hydrocarbon business.
This is negative as it would have given RIL an access to latest petrochemicals technologies along with assured crude supplies.
RIL has made strong move towards net zero plan by 2035 and plan investment in solar energy, advanced energy storage, electrolyser and fuel cell.
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