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Motilal Oswal Report
Reliance Industries Ltd. in a recent presentation announced initiation of the formal process of carving out the oil-to-chemical business into a wholly owned independent subsidiary.
The company has clearly become a case study at many ivy leagues after raising Rs 2,202 billion during the Covid-19 pandemic.
After selling stakes in both Reliance Jio and Retail, it now used a leaf from its own book.
The move to merge the refining and petchem businesses, coupled with its net cash status, may attract investments in the O2C business as well (a perfect replica of RJio deals).
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