Friday, 3 March 2017

Sensex continues to fall, Nifty opens below 8900 >> Free Stock Cash Tips

CLSA has retained its buy call on Reliance Industries, with increased target price at Rs 1,500 (from Rs 1,350) after the company guided on Jio's FY21 EBITDA of over USD 11 billion and expects 50 percent rise in industry revenue to USD 45 billion by FY21. According to management, Jio's 4G capacity is nearly 5x of the remaining industry. 

Expected to be able to handle 4 billion GB of data per month by end of 2017. CLSA says Jio is hopeful of fully sorting out interconnection issues in this month and Jio's capacity may warrant a higher EV/EBITDA (enterprise value/earnings before interest, tax, depreciation and amortization) multiple of 7.5x. The brokerage house has raised its multiple for refining to 6.5x EV/EBITDA and retail to 1x EV/sales.

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