Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
Below is the Views on RIL by Mr. Ajay Bodke (CEO PMS Prabhudas Lilladher)
"Market is going to heartily welcome the seminal announcement by India's largest & most respected company RIL of 20% stake sale in its oil-to-chemical (OTC) business to the world's largest oil company Saudi Aramco. It reinforces Mr. Mukesh Ambani's reputation as India's top business leader whose global vision has transformed the country's economic milieu. This is inarguably India's largest-ever FDI inflow and would help dissipate the gloomy sentiment currently pervading in the economy & stock markets. This program to aggressively pursue deleveraging in businesses such as OTC, fiber & tower and emerge as a zero debt company in the next 18 months will strengthen the consolidated balance-sheet leading to strong valuation re-rating of the stock. RIL continues to remain as the pre-eminent play on the Indian economic jaggurnaut that is likely to touch USD 10 trillion by 2030"
Above views are of the author and not of the website kindly read disclaimer