Reliance Industries Ltd.<\/a>, incorporated in 1973, has a market cap of Rs 1208950.03 crore.
Investment Rationale<\/b>
The recommendation follows the investment of $252 million by Intel Capital for 0.39 per cent stake in Jio Platforms. This investment values Jio Platforms at $68.8 billion-,along similar lines as the recently announced stake sale, said Morgan Stanley. Multiple catalysts are in play with faster than expected de-leveraging, improving demand and margin outlook on refining and chemicals, top quartile earnings CAGR of 23 per cent over FY20-23,and digtisation, supporting multiples, the brokerage said.
Quarterly Results<\/strong>
Reliance Industries Ltd.<\/a>, incorporated in 1973, has a market cap of Rs 1208950.03 crore.
Investment Rationale<\/b>
The recommendation follows the investment of $252 million by Intel Capital for 0.39 per cent stake in Jio Platforms. This investment values Jio Platforms at $68.8 billion-,along similar lines as the recently announced stake sale, said Morgan Stanley. Multiple catalysts are in play with faster than expected de-leveraging, improving demand and margin outlook on refining and chemicals, top quartile earnings CAGR of 23 per cent over FY20-23,and digtisation, supporting multiples, the brokerage said.
Quarterly Results<\/strong>
Financials<\/b>
For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 136240.00 crore, down -11.06 per cent from last quarter sales of Rs 153179.00 crore and down -2.40 per cent from last year's same quarter sales of Rs 139590.00 crore. The company has reported net profit after tax of Rs 6575.00 crore in the latest quarter.
Promoter\/FII Holdings<\/b>
Promoters held 49.15 per cent stake in the company as of June 11, 2020 while FIIs held 24.17 per cent, DIIs held 13.37 per cent and public & others 13.31 per cent.<\/body>","next_sibling":[{"msid":76805748,"title":"France won't ban Huawei, but encouraging 5G telcos to avoid it: Report","entity_type":"ARTICLE","link":"\/news\/france-wont-ban-huawei-but-encouraging-5g-telcos-to-avoid-it-report\/76805748","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"76805569","title":"stock","entity_type":"IMAGES","seopath":"markets\/stocks\/recos\/overweight-on-reliance-industries-target-price-rs-1801-morgan-stanley\/stock","category_name":"Overweight on Reliance Industries, target price Rs 1,801: Morgan Stanley ","synopsis":false,"thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-198498\/76805569.cms?width=150&height=112","link":"\/image\/markets\/stocks\/recos\/overweight-on-reliance-industries-target-price-rs-1801-morgan-stanley\/stock\/76805569"}],"msid":76805777,"entity_type":"ARTICLE","title":"Overweight on Reliance Industries, target price Rs 1,801: Morgan Stanley ","synopsis":"The recommendation follows the investment of $252 million by Intel Capital for 0.39 per cent stake in Jio Platforms. ","titleseo":"telecomnews\/overweight-on-reliance-industries-target-price-rs-1801-morgan-stanley","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2020-07-06 08:22:19","lastupd":"2020-07-06 08:22:47","breadcrumbTags":["Reliance Industries share price","Reliance Industries Ltd.","markets","sensex","Industry","Morgan Stanley","Nifty","buy-sell"],"secinfo":{"seolocation":"telecomnews\/overweight-on-reliance-industries-target-price-rs-1801-morgan-stanley"}}" data-news_link="//www.iser-br.com/news/overweight-on-reliance-industries-target-price-rs-1801-morgan-stanley/76805777">