Comments
Energy-to-telecoms conglomerate Reliance Industries Ltd today gained 4 per cent and was heading towards biggest daily gain since March 2014.
Core business improvement has been largely ignored due to a fear of higher capex in the upcoming telecom auction, according to CLSA.
It says that the company’s gross refining margin could rise to a six-year high of more than $10/bbl in Q4. Reliance could post a record high quarterly net profit of Rs 6,250 crore ($1.01 billion) in Q4.
CLSA says that the stock trades at a discount to global peers as well as its own historical valuations despite having the best two-year EBITDA growth in the global large-cap energy space.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.