RIL’s Underperformance To Reverse: Jefferies

Reliance Industries Ltd.’s earnings will grow at a faster pace compared to Nifty 50 – India’s benchmark index – over FY22-24, says foreign brokerage house, Jefferies. RIL’s Retail and Jio division will be leading this growth for India’s largest company.
For the Retail division, store additions and traction in the new commerce business will be the growth driving factors, while for Jio, it will be the tariff hike. 2022 will be crucial for Jio's transition into a digital services company and the possibility of an IPO hinges on a successful transition.
Overall, for RIL, EPS is expected to grow at 23% CAGR over FY22-24, as compared to a 16% EPS CAGR of Nifty 50 index.

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