MOSL: RELIANCE INDUSTRIES (Buy)-The Jio boost!
RELIANCE INDUSTRIES: The Jio boost!RELIANCE INDUSTRIES: The Jio boost!(RIL IN, Mkt Cap USD137.5b, CMP INR1551, TP INR1836, 18% Upside, Buy)
** Further to its price-hike announcement last week, RJio - along with Bharti and VIL - has rolled out new tariff plans with effective hike of ~27%, which should result in 58% increase over annualized 2QFY20 EBITDA.
** While the absolute discount between RJio and Bharti/VIL's price plans are constant at INR40-50 for most of the popular quarterly bundled plans, the discount of RJio's plan over Bharti/VIL's plan has reduced to 8% from 11- 13% in previous months.
** We raise the equity valuation of RJio from INR280/share to INR500/share as a result of the tariff hike. We raise the target price of RIL from INR1,630/share to INR1,836/share.
Reliance Industries is primarily engaged in the production and market of petrochemical products, and refinery and retail of petroleum and LPG. Co.'s petrochemical products include polymer - polypropylene (PP), polyethylene (PE), poly vinyl chloride (PVC); polyester - polyester filament yarn (PFY), polyester staple fiber (PSF), polyethylene terephthalate (PET); polyester intermediates - paraxylene (PX), purified terephthalic acid (PTA), mono-ethylene glycol (MEG); and cracker products - ethylene, propylene and aromatics. Co. is also engaged in the manufacture of RELAB and textiles. Co.'s textile products are sold under the brand names: Only Vimal, Harmony, Reance, RueRel and V2.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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