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Silver Lake to invest in Reliance Retail: What brokerages make of the deal

Updated : 2020-09-10 09:19:09

Reliance Industries announced that private equity firm Silver Lake will invest Rs 7,500 crore for a 1.75 percent equity stake in its subsidiary Reliance Retail Ventures. Here's a look at what the brokerages have to say about the deal and other brokerage calls of the day:

 HSBC : Silver Lake’s valuation of Reliance Retail is in-line with the brokerage’s valuation. It added that this could start another round of potential investments. It maintains a 'hold' rating on the stock with a target at Rs 2,020.
HSBC: Silver Lake’s valuation of Reliance Retail is in-line with the brokerage’s valuation. It added that this could start another round of potential investments. It maintains a 'hold' rating on the stock with a target at Rs 2,020.
 Morgan Stanley:  The brokerage expects Reliance Industries to emerge stronger post the COVID-19 pandemic. Margin should surprise as pricing power rises for the company, it added. It is 'overweight' on the stock with a target at Rs 2,247.
Morgan Stanley: The brokerage expects Reliance Industries to emerge stronger post the COVID-19 pandemic. Margin should surprise as pricing power rises for the company, it added. It is 'overweight' on the stock with a target at Rs 2,247.
 Citi : As per the brokerage, strategic investment in retail could lead to a valuation premium for RIL being ascribed. Citi maintains a 'neutral' rating on the stock with a target at Rs 2,250.
Citi: As per the brokerage, strategic investment in retail could lead to a valuation premium for RIL being ascribed. Citi maintains a 'neutral' rating on the stock with a target at Rs 2,250.
 Jefferies on Kajaria Ceramics:  The brokerage maintains a 'buy' call on the stock with a target at Rs 550. It is penciling a subdued FY21 for Kajaria & expects sales/net profit at +6 percent/9 percent compound annualized growth rate over FY20-23.
Jefferies on Kajaria Ceramics: The brokerage maintains a 'buy' call on the stock with a target at Rs 550. It is penciling a subdued FY21 for Kajaria & expects sales/net profit at +6 percent/9 percent compound annualized growth rate over FY20-23.
 Nomura on Roads : Liquidity for road infra improving/execution picking up, Nomura says, adding that further liquidity of Rs 2,500 crore is likely to follow in the coming months.
Nomura on Roads: Liquidity for road infra improving/execution picking up, Nomura says, adding that further liquidity of Rs 2,500 crore is likely to follow in the coming months.
 Morgan Stanley on JSW Steel : The brokerage maintains an 'equal-weight' rating for the stock with a target at Rs 320 per share. JSW Steel’s August production showed a month-on-month improvement, but it’s a tad below expectation, it added.
Morgan Stanley on JSW Steel: The brokerage maintains an 'equal-weight' rating for the stock with a target at Rs 320 per share. JSW Steel’s August production showed a month-on-month improvement, but it’s a tad below expectation, it added.
 CLSA on Sunteck Realty : The brokerage initiates coverage on the stock with a 'buy' call and a target at Rs 345 per share. Sunteck Realty has a track record of accretive acquisitions via efficient capital management and CLSA is optimistic over it.
CLSA on Sunteck Realty: The brokerage initiates coverage on the stock with a 'buy' call and a target at Rs 345 per share. Sunteck Realty has a track record of accretive acquisitions via efficient capital management and CLSA is optimistic over it.
 CLSA on HUL:  Recent actions helped HUL gain volume market share in 97% of the portfolio, CLSA says, maintaining that the FMCG major remains a preferred pick on better execution, favourable product mix.
CLSA on HUL: Recent actions helped HUL gain volume market share in 97% of the portfolio, CLSA says, maintaining that the FMCG major remains a preferred pick on better execution, favourable product mix.
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