CLSA maintains 'buy' on Reliance Industries

CLSA has retained buy rating on Reliance Industries with a target price of Rs 1,080.

The Hong Kong-headquartered brokerage said this year will see a big cash-flow boost as projects of over $40 billion start to deliver in full swing while capital expenditure falls.

"Stabilisation of ROGC and petcoke gasification would boost Ebitda," said CLSA.


CLSA said Jio’s monetisation plan entails raising smartphone Arpus and expanding 4G feature phone subs along with the launch of its broadband and enterprise offering.

"We will also start to see cross-selling and other ways to monetise Reliance’s wide customer base, which will be the key long-term value driver," said CLSA.