Reliance Industries - O2C Deal Called Off; Limited Change In Prospects: Centrum Broking
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Centrum Broking Report
Reliance Industries Ltd. has announced a “re-evaluation” of the proposed deal to divest a strategic stake in its Oil to Chemicals business to Saudi Aramco after ~2 years of negotiations, highlighting the change in the market environment and the change in strategic priorities for RIL.
Beyond the near-term disappointment of the deal not fructifying, however, we see little impact of this development on business prospects or earnings.
With a comfortable balance sheet and steady earnings accretion from every business segment, our rating stays.
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