While petrochemicals and refining form the majority of RIL’s business, it’s retail and Jio that are driving the stock up. Long seen as an old-school refining business, the perception towards RIL is changing. It has the elements of a successful startup – a new digital business, dynamic promoters, and top-tier investors. Can RIL get the valuation of a startup?
In a month to the first week of September, the stock price of Reliance Industries (RIL) rose 13%, compared with a 5% gain by the Nifty. This was on the back of the news that Jio and Airtel have concluded their spectrum-trading agreement for INR1,183.3 crore. Coupled with that was a proposed launch of an ‘ultra-affordable smartphone’ — JioPhone — being jointly developed with Google. However, the phone launch got delayed and the RIL stock came
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