Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) can become the first Indian company to hit $200 billion market capitalisation in the coming two years, a global brokerage said.
Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) can become the first Indian company to hit $200 billion market capitalisation in the coming two years, a global brokerage said. The commerce and fixed broadband businesses can nearly double the m-cap of India’s largest petrochemical and second-largest oil refining company in the next 24 months from the current $122 billion, news agency PTI reported citing Bank of America Merrill Lynch said in a report.
Three key drivers include commerce initiative of empowering Kiranas in unorganised retail market by offering MPoS (mobile point-of-sale), entry into SME enterprise space with Microsoft, Reliance Jio’s fiber broadband business and digital initiatives like advertising. “In our bull-case, we look at a 24-month fair-value of the company as we believe most of the new businesses which are in gestation period will take around 24 months to acquire scale and contribute meaningfully to RIL’s fair value,” it said.
Meanwhile, recently, Reliance Jio has ended free outgoing voice calls for its prepaid and postpaid mobile phone users. Beginning today, Mukesh Ambani-led Reliance Jio will charge an interconnect fees from Jio mobile phone users for calls made to non-Jio mobile phones, the company said in a statement.
All incoming calls to Jio mobiles, all outgoing calls from Jio to Jio mobiles, and all outgoing calls from Jio mobiles to landline phones continue to be free of charge, it said. Reliance Jio has taken this step in order to recover the interconnect usage charge that the company pays to the other operator for every outgoing mobile phone call. The company had to bear the Rs 13,500 crore payment made to rivals such as Bharti Airtel and Vodafone Idea since voice calls on its network are free, Jio said.