Reliance Industries<\/a> (RIL<\/a>) is unlikely to launch the initial public offerings or IPOs of its twin consumer consumer businesses of telecom and retail this year or sell stake in the new energy business, according to global investment bank JPMorgan Chase.

At the conglomerate's annual general meeting (AGM) last year, RIL chairman Mukesh Ambani had told shareholders that he will give an update on the IPO in his AGM speech this year. Earlier in 2019, the billionaire had said about listing these businesses in the next five years. In between,
Reliance<\/a> has already raised funds from multiple investors for both Jio<\/a> and Reliance Retail.

While giving a price target of Rs 3,015 on RIL for January 2024,
JP Morgan<\/a> analyst Pinakin Parekh said progress on Jio Financial Services (JFS) should be a near term catalyst for the stock.

\"We currently value JFS at the RIL treasury stock value (1x) and depending on how RIL builds out and scales up JFS (organic\/acquisition) will determine how markets value JFS,\" Parekh said in a note.

RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. \"While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely,\" the brokerage said.

RIL’s consolidated dues and borrowing is up sharply over the last one year, but this is mostly driven by the surge in deferred payment liabilities post the spectrum acquisition in Jio and underlying borrowings remain well below the 4QFY20 peak, it said.

The brokerage has an overweight rating on the oil-to-telecom major and believes the recent underperformance is mostly flows driven (given continued FII sell down in India) even as the underlying earnings environment remains strong.

The stock, which has lost over 5% so far in the month, was trading 0.4% lower today at Rs 2,433.05.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)<\/em>
<\/body>","next_sibling":[{"msid":97265572,"title":"Pakistan's mobile phone imports decline 66% in 1st half of FY 2023","entity_type":"ARTICLE","link":"\/news\/pakistans-mobile-phone-imports-decline-66-in-1st-half-of-fy-2023\/97265572","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"97246542","title":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","entity_type":"IMAGES","seopath":"markets\/ipos\/fpos\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan","category_name":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","synopsis":false,"thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-44876\/97246542.cms?width=150&height=112","link":"\/image\/markets\/ipos\/fpos\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan\/97246542"}],"msid":97265608,"entity_type":"ARTICLE","title":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","synopsis":"RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. \"While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely,\" the brokerage said.","titleseo":"telecomnews\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan","status":"ACTIVE","authors":[{"author_name":"Nikhil Agarwal","author_link":"\/author\/479254346\/nikhil-agarwal","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479254346.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":false,"msid":479254346,"author_name":"Nikhil Agarwal","author_seo_name":"nikhil-agarwal","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2023-01-24 07:44:06","lastupd":"2023-01-24 07:44:25","breadcrumbTags":["reliance jio","reliance retail ipos","jp morgan","ril","jio","reliance","reliance share price","ril share price","reliance industries","reliance","ril","Industry","telecom news"],"secinfo":{"seolocation":"telecomnews\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan"}}" data-authors="[" nikhil agarwal"]" data-category-name="" data-category_id="" data-date="2023-01-24" data-index="article_1">

信实Jio零售今年ipo可能:摩根大通(JP Morgan)

瑞来斯目前在石化企业mini-capex循环,电信(Jio)和新能源企业,将重新关注公司的资本支出和不断上升的债务。“虽然瑞来斯不给资本支出的指导,我们预计总体支出水平温和光谱采集是我们身后和大型直接支出的新能源企业是不可能的,”经纪说。

Nikhil阿加瓦尔
  • 更新2023年1月24日07:44点坚持
信实工业公司(瑞来斯)不太可能启动首次公开发行(ipo)或ipo的双胞胎今年消费者消费业务的电信和零售或出售股份的新能源业务,根据全球投资银行摩根大通。

集团的年度大会(AGM)去年,瑞来斯董事长穆凯什•安巴尼对股东说,他会给一个更新在今年IPO AGM讲话。在2019年早些时候,这位亿万富翁曾表示对清单这些企业在未来五年。在之间,依赖已经筹集资金从多个投资者对吗Jio和信实零售。

广告
同时给一个目标价的Rs 3015瑞来斯在2024年1月,摩根大通(JP Morgan)分析师Pinakin帕克尔说进展Jio金融服务(JFS)应该是一个短期内股价的催化剂。

“我们目前价值JFS瑞来斯(1 x)和财政部股票价值取决于瑞来斯建立了和尺度JFS(有机/收购)将决定市场价值JFS,”帕尔克在一份报告中称。

瑞来斯目前在石化企业mini-capex循环,电信(Jio)和新能源企业,将重新关注公司的资本支出和不断上升的债务。“虽然瑞来斯不给资本支出的指导,我们预计总体支出水平温和光谱采集是我们身后和大型直接支出的新能源企业是不可能的,”经纪说。

瑞来斯的合并费和借款大幅上升在过去的一年,但这主要是由于延期付款责任后光谱采集激增Jio和潜在的借款仍远低于4 qfy20高峰,它说。

经纪有超重评级oil-to-telecom重大,相信近期表现不佳主要是流驱动(鉴于印度继续造成减)尽管潜在的盈利环境仍然强劲。

已经失去了超过5%的股票,在本月到目前为止,交投今天在Rs 2433 .05低0.4%。

(免责声明:建议,建议,观点和意见的专家。这些不代表《经济时报》的观点)
  • 发表在2023年1月24日07:44点坚持
是第一个发表评论。
现在评论

加入2 m +行业专业人士的社区

订阅我们的通讯最新见解与分析。乐动扑克

下载ETTelec乐动娱乐招聘om应用

  • 得到实时更新
  • 保存您最喜爱的文章
扫描下载应用程序
Reliance Industries<\/a> (RIL<\/a>) is unlikely to launch the initial public offerings or IPOs of its twin consumer consumer businesses of telecom and retail this year or sell stake in the new energy business, according to global investment bank JPMorgan Chase.

At the conglomerate's annual general meeting (AGM) last year, RIL chairman Mukesh Ambani had told shareholders that he will give an update on the IPO in his AGM speech this year. Earlier in 2019, the billionaire had said about listing these businesses in the next five years. In between,
Reliance<\/a> has already raised funds from multiple investors for both Jio<\/a> and Reliance Retail.

While giving a price target of Rs 3,015 on RIL for January 2024,
JP Morgan<\/a> analyst Pinakin Parekh said progress on Jio Financial Services (JFS) should be a near term catalyst for the stock.

\"We currently value JFS at the RIL treasury stock value (1x) and depending on how RIL builds out and scales up JFS (organic\/acquisition) will determine how markets value JFS,\" Parekh said in a note.

RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. \"While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely,\" the brokerage said.

RIL’s consolidated dues and borrowing is up sharply over the last one year, but this is mostly driven by the surge in deferred payment liabilities post the spectrum acquisition in Jio and underlying borrowings remain well below the 4QFY20 peak, it said.

The brokerage has an overweight rating on the oil-to-telecom major and believes the recent underperformance is mostly flows driven (given continued FII sell down in India) even as the underlying earnings environment remains strong.

The stock, which has lost over 5% so far in the month, was trading 0.4% lower today at Rs 2,433.05.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)<\/em>
<\/body>","next_sibling":[{"msid":97265572,"title":"Pakistan's mobile phone imports decline 66% in 1st half of FY 2023","entity_type":"ARTICLE","link":"\/news\/pakistans-mobile-phone-imports-decline-66-in-1st-half-of-fy-2023\/97265572","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"97246542","title":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","entity_type":"IMAGES","seopath":"markets\/ipos\/fpos\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan","category_name":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","synopsis":false,"thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-44876\/97246542.cms?width=150&height=112","link":"\/image\/markets\/ipos\/fpos\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan\/97246542"}],"msid":97265608,"entity_type":"ARTICLE","title":"Reliance Jio, Retail IPOs unlikely this year: JP Morgan","synopsis":"RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. \"While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely,\" the brokerage said.","titleseo":"telecomnews\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan","status":"ACTIVE","authors":[{"author_name":"Nikhil Agarwal","author_link":"\/author\/479254346\/nikhil-agarwal","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479254346.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":false,"msid":479254346,"author_name":"Nikhil Agarwal","author_seo_name":"nikhil-agarwal","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2023-01-24 07:44:06","lastupd":"2023-01-24 07:44:25","breadcrumbTags":["reliance jio","reliance retail ipos","jp morgan","ril","jio","reliance","reliance share price","ril share price","reliance industries","reliance","ril","Industry","telecom news"],"secinfo":{"seolocation":"telecomnews\/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan"}}" data-news_link="//www.iser-br.com/news/reliance-jio-retail-ipos-unlikely-this-year-jp-morgan/97265608">