Latest News
-
HDFC Bank Q4 Preview: Net Profit Likely To Grow 56% YoY; Credila Stake Sale To Fuel Earnings -
1:10 Split, Rs 299/Sh Dividend: Tata's Steel Stock Up 11% In 30-Days, Better Than Nifty; PL Says Accumulate -
625% Dividend, 1:10 Split, 3 Bonus; FMCG ITC Makes Big Acquisition Announcement; Stock Target Prices In April -
2:1 Bonus Issue: IT Penny Stock Turned; 1,600 Shares Market Lot Size Revised To 4,800 Shares -
FREE, FREE, FREE! 3:1 Bonus: Pharma Stock Hits Back-To-Back Upper Circuits; 500 Shares To Earn Rs 1,69,500 -
1:10 Stock Split: Below Rs 10, Fertilizer Sector Turned Ex-Split; 8,282% Returns In 5 Years -
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33%
RIL Hits Record High As Analysts Cheer Its Restructuring Move
Rallying for the second consecutive trading session, shares of Reliance Industries Limited (RIL) rose as much as 2.4 percent on Tuesday to touch a new record high of Rs 1,470.90 on NSE.
Analysts welcomed the conglomerate's decision to separate its telecom arm from other digital businesses.
On Friday, in a stock exchange filing, RIL informed of the board's decision to create a new digital platform holding company and debt restructuring.
Indian stock markets were closed on Monday on account of Diwali.
The decision comes in line with Chairman and MD Mukesh Ambani's recent annual general meeting (AGM) announcement that the conglomerate was planning to utilise the potential of its telecom and retail ventures (Reliance Retail) with partnerships and would also be listing the two businesses separately in the next five years.
Analysts expect the re-organised digital entity to have a valuation of $60-65 billion, making it more attractive for strategic investors. Moving Jio's non-core digital businesses to separate units would also help contain the telecom subsidiary's AGR (Adjusted Gross Revenue) linked license payments in the future.
In the exchange filing, RIL also said that it would invest Rs 1.08 lakh crore through a rights issue in the newly formed arm. The move is going to make Reliance Jio virtually net debt-free by 31 March 2020, with exception of spectrum-related liabilities, RIL said.
