Month: March 2021

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‘Reliance Retail already worth $100 bn’: Jefferies sees 24% upside in RIL shares

Mukesh Ambani’s retail venture Reliance Retail is now worth $100 billion in equity value (about Rs 7.2 lakh crore), according to global investment bank Jefferies. In a recent report, analysts at Jefferies ascribed a $100 billion equity value to Reliance Retail while pinning its enterprise value at $93 billion. “We find Reliance Retail (RR) well-positioned to ride the strong organized retail opportunity with its widespread presence across grocery, apparel and electronics,” the report said. The retail unit of RIL is the largest organised retailer in India with a retail area of 30mn+ sq ft.

Of the value ascribed to Reliance Retail, the core retail business is valued at $71 billion, connectivity business at $4 billion, while the e-commerce segment is valued at $19 billion by Jefferies. RR is being looked at as a retail behemoth and a budding challenger in the e-commerce space.

Reliance Retail growing fast

“Reliance’s retail segment is growing at a much faster pace than the energy business, which has increased its salience in RIL’s consolidated revenues over the past few years,” the report said. Reliance Retail had a 6% contribution to in revenue in FY2016, now the same has zoomed to 20%. The retail segment has a diversified presence across consumer electronics, fashion and grocery, unlike peers who are mostly focused on specific formats. The oil-to-conglomerate RIL owns 85% share in the retail unit, leading to 37% to overall RIL SoTP, according to Jefferies.

Helped by Reliance Retail and other segments, Jefferies sees significant upside for Reliance Industries. Seeing positives ahead, the brokerage firm highlighted several reasons for investors to buy RIL shares. Here, the key triggers for RIL include O2C stake sale, GRM recovery, tariff hike in Jio, the possible listing of Jio, and a banking license for RIL. Jefferies also sees RIL’s partnership with Facebook and Google as a reason to buy the stock.

Stock price expectations

The brokerage firm sees a massive 24% upside for RIL shares from current levels. In the base case scenario, the stock is expected to jump to Rs 2,600 apiece. Here, SOTP valuation implies 12x one yr fwd EV/Ebitda. 22% Ebitda Cagr in Retail, 9% Ebitda Cagr in refining, and 2% Ebitda Cagr in petrochemical. Jefferies expects RIL shares to gallop to Rs 2,900 per share if the strategic sale of O2C business re-rates multiples, telecom consolidation speeds up and Jio goes for listing. On the downside, in case of a lower ARPU, weak refining margins, and elevated cash-burn is expected to take the stock down to Rs 2,000 apiece.

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Anupam Rasayan IPO: Check share allotment via BSE, KFin Tech website; grey market premium, listing date

Anupam Rasayan India is likely to finalise the basis of allotment of the IPO on Friday, March 19, 2021. The Rs 760-crore initial public offering was subscribed 44 times. The issue was sold in the price band of Rs Rs 553-555 per share. According to the Anupam Rasayan India’s prospectus, initiation of refunds or unblocking of funds from ASBA accounts will take place on March 22, and the credit of equity shares to the depository accounts of allottees will happen on March 23. Anupam Rasayan will make its stock market debut on March 24, 2021. The grey market premium of Anupam Rasayan shares was seen at Rs 100 over IPO price. On Friday, Anupam Rasayan shares were trading at Rs 655 over IPO price, up 18 per cent in the grey market, according to data provided by UnlistedArena.com, which tracks grey market.

Once the basis of share allotment is done, investors can check their subscription status in Anupam Rasayan via the registrar’s website, i.e. from KFin Technologies Private Limited, a SEBI-registered entity responsible for the IPO allotment and refund processing, and from the BSE website. The recent trend in IPO listings exhibits that stocks tend to give up some of the gains after listing at high premiums, says Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares. He added that the stock may list in a range of Rs 630-670 if the market recovers. “Hence, in my personal opinion a street smart approach is required, I would like to book short term profits and wait for good opportunities in quality companies,” said Doshi.

How to check Anupam Rasyan share allotment status via KFin Tech Private Ltd website
Investors can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that, select the IPO and enter either your application number or DPID/Client ID or PAN. In case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit.

Check Anupam Rasyan share allotment status via BSE website
Another way to check the allotment status in Anupam Rasyan is through BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘Anupam Rasyan India Ltd’ from the drop-down list, when it gets declared. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.

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Petrol and diesel price today 18 March 2021: Rates remain unchanged; Check prices in Delhi, other cities here

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remained unchanged once again. On March 18, the price of petrol and diesel across major cities was the same as yesterday, marking the eighteenth consecutive day on unchanged prices. Nation Capital Delhi was quoting a petrol price of Rs 91.17 per litre while Diesel in the city was priced at Rs 81.47 per litre. Fuel prices were highest in Mumbai a Rs 97.57 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

Mumbai’s petrol cost is the highest today at Rs 97.57 per litre while Diesel in the country’s financial capital costs Rs 88.60 per litre. This massive divergence in prices between Delhi and Mumbai is owing to different prices in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT. On Tuesday, the base price, paid by the dealer, was Rs 33.26 per litre, to this, freight charges of Rs 0.28 per litre were added. Excise Duty on petrol in Delhi stood at Rs 32.90 per litre while the average dealer commission was at Rs 3.69 per litre. VAT charges on petrol stood at Rs 21.04 per litre. This adds up to the current price of Petrol in Delhi.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, UP, Punjab, Haryana, Pune
Chennai: Petrol prices – Rs 93.11 per litre; Diesel prices – Rs 86.45 per litre

Kolkata: Petrol prices – Rs 91.35 per litre; Diesel prices – Rs 84.35 per litre

Pune: Petrol prices – Rs 97.21 per litre; Diesel prices – Rs 86.90 per litre

Bengaluru: Petrol prices – Rs 94.22 per litre; Diesel prices – Rs 86.37 per litre

Hyderabad: Petrol prices – Rs 94.79 per litre; Diesel prices – Rs 88.86 per litre

Noida (UP): Petrol prices – 89.38 per litre; Diesel prices – Rs 81.91 per litre

Mohali (Punjab): Petrol prices – Rs 93.05 per litre; Diesel prices – 84.03 per litre

Chandigarh: Petrol prices 87.73 per litre; Diesel prices – Rs 81.17 per litre

Gurugram (Haryana): Petrol prices – Rs 89.11 per litre; Diesel prices – Rs 82.05 per litre

Crude Oil price continues to slip
Crude oil prices have extended their losses for this week. Brent crude was down 12 cents to $67.88 per barrel. Prices have been slipping with worries emerging in Europe over vaccine rollout hitting fuel demand going ahead. “Oil prices that remain crimped by more countries in Europe suspend the use of the AstraZeneca vaccine didn’t get much help from the EIA data as US crude inventories built by 2.4 million barrels last week and are up 38 million barrels over the previous three weeks due to low refinery utilisation following the winter freeze-off—walking back some of the more bullish for oil inferences from the API estimate the day prior,” said Stephen Innes, Chief Global Market Strategist at Axi.

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NSE Data invests in technology startup Capital Quant Solutions

NSE Data and Analytics, a wholly-owned subsidiary of leading stock exchange NSE, on Wednesday said it has invested in technology startup Capital Quants Solutions Ltd (CQS).

CQS is an India-based technology startup focused on providing software products using machine learning and natural language proficiency that help in extracting and analysing structured information and building machine learning models for extracting data from complex unstructured financial documents. ”The investment in CQS is a part of NSE’s program for investment in the fields of analytics, digital, robotics, security, artificial intelligence, machine learning and blockchain, where startups require early stage financing and incubation to expand and realise their full potential,” Vikram Limaye, MD and CEO at NSE, said in a statement.

Through such partnerships with select startups, which have demonstrated technological potential, the National Stock Exchange of India (NSE) Group aims to further strengthen its technology leadership, he added.

According to him, these fields present innovative solutions and breakthrough technologies, which could potentially change the future of capital markets in India and the world. ”Our relationship with the exchange started with NSE being a customer for our flagship product, FinStinct. Over time this relationship has grown not just in terms of the size of the engagement but has also grown at a strategic level. Today we offer cognitive automation to various functions and divisions within the exchange and we also have the exchange as an investor in us,” said Pravin Lal, Founder, CQS.

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