Categories: Business

RIL may now make next surprise announcement regarding its energy business: Morgan Stanley

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new Delhi. With Reliance Industries Ltd (RIL) selling its $ 14 billion stake in the last two months and completing the $ 7 billion rights issue, the next big step towards reducing debt could come from its fuel business. Cash flow in its fuel business is better than anticipated. This information has been given in a report released on Tuesday. According to this report by Morgan Stanley, "The fuel business has started better than expected. The next step to growth and surprise could come from the area of ​​volume and margin improvement in the energy and retail businesses. "

Billionaire businessman Mukesh Ambani's oil-to-retail, telecom business group Reliance Industries has sold $ 14 billion in stake over the past two months, and has surprised everyone by completing a $ 7 billion rights issue. According to the report, "We believe that this will reduce the net debt (Rs 1.6 lakh crore) by half by the end of 2020-21. As soon as the monetization of the remaining assets is complete, the net debt load will come to near zero. ”The report said that the next surprising step in the debt reduction case could come from the energy sector. In this case too, Reliance's cash flow is looking better than estimates. Reliance has started separating its business from oil to chemicals. This includes its two oil refineries and a petrochemical unit in Jamnagar, Gujarat.

This post was published on June 16, 2020 8:06 pm

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