 "The growth expectations and further rerating hinge on its consumer businesses — Jio Platforms/Reliance Jio and Reliance Retail")
Reliance Industries' (RIL's) stock surged 6.2 per cent in trade on Friday and closed at its lifetime high of Rs 1,759.50 after the company announced it had become net-debt free post the slew of investments in Jio Platforms and the completion of its rights issue. On the back of a price surge, the stock has more than doubled since its lows in March.
The reason the stock has rerated is the earnings boost lower debt will have on the financials. The interest outgo for FY20 for the consolidated entity at over Rs 22,000 crore grew 33 per cent over the
