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Jio's valuation post Facebook deal higher than our estimates, says Centrum Broking

Updated : April 23, 2020 03:05 PM IST

In an interview to CNBC-TV18, Nischal Maheshwari, chief executive officer for institutional equities at Centrum Broking, said that Reliance Jio's valuation after the deal with Facebook was higher than their estimates.

“We have had a relook at the numbers. The valuation, especially for Jio, what we had been valuing at Rs 3.86 trillion came at Rs 4.5 trillion and that is why we had to relook at our numbers. We have increased the target price by around 10 percent. So, definitely it is a very positive step,” he said.

Maheshwari has been very positive on Aurobindo Pharma. He also believes that it is a good time to buy hospital stocks.
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