Reliance Industries - Turning New Energy Vision To Action: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The Ministry of New and Renewable Energy recently announced its plans to- set up two hydrogen hubs in India by FY26, andprovide incentives up to Rs 44.4 billion for electrolyzer manufacturing through a second tranche. We believe both these announcements are key milestones toward the government’s vision to develop a robust green hydrogen ecosystem in India. These initiatives also align with Reliance Industries Ltd.’s plans to establish a Giga-scale electrolyzer manufacturing facility. Additionally, oil-to-chemical earnings in Q4 FY24 should remain robust, given sharp recovery in Singapore GRM to $7.4/barrel of oil (Q3 FY24: $5.5/bbl) even as key petchem spreads over naphtha are stable on a QoQ basis.In the telecom business, we are building in 5%/4% compound annual growth rate for subs/average revenue per user over FY24-26 period, while in retail, we expect a 29% CAGR Ebitda (FY24- 26), led by store additions, higher store productivity, and foray into digital and new commerce. We reiterate our Buy rating on the stock with a target price of Rs 3,210..Click on the attachment to read the full report:.U.S. Fed Holds Key Interest Rate With Signal For Three Cuts This Year.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Reliance Industries - Turning New Energy Vision To Action: Motilal Oswal

We reiterate our Buy rating on the stock with a target price of Rs 3,210.

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