Oil-to-telecom conglomerate Reliance Industries (RIL) is all set to announce its second-quarter results today. The stock is up 25 percent from the August lows. Also, it is less than 3 percent away from a 52-week high. The September quarter is expected to be very good for the company.
Elara Capital expects the retail business to grow at a rate of 80 to 100 percent. “For retail, I expect 80-100 percent growth rate that they maintain in EBITDA and Jio around 35 percent YoY growth," Gagan Dixit, oil & gas analyst, Elara Capital, told CNBC-TV18.
“There is some weakening in petchem and that’s impacting some growth. However, the non-oil business growth will continue,” he added.
He further said that Jio Fiber can add Rs 140 per share to RIL valuation over 3 years.
Disclosure: Reliance Industries, the parent company of Reliance Jio, owns Network 18 that publishes CNBCTV18.com.