As a part of its growth strategy, RIL now plans to transform its traditional energy business and aims to offer decarbonisation solutions.
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
A slew of major corporate announcements has brought Reliance Industries (RIL) under the spotlight of late. Last week, RIL announced that the long-pending deal with Aramco has been called off as both the parties have mutually decided to re-evaluate the proposed investment in the O2C (oil-to-chemicals) business. On November 24, 2021, RIL made another big announcement, involving corporate restructuring. The company has decided to implement a Scheme of Arrangement to transfer the Gasification Undertaking into a Wholly Owned Subsidiary….