Even as the giant pact between Mukesh Ambani-led Reliance Industries and world’s most profitable firm Saudi Aramco continues to hog limelight, analysts say that the potential deal will help RIL in de-risking and de-leveraging. According to global firm HSBC, the possible deal could derisk RIL’s energy business in the long-term and could accelerate its deleveraging plans in the near term. HSBC has retained a ‘Buy’ rating on the shares with a target price of Rs 1,500. Reliance Industries is expected to report Q4 results later today.
Oil giant Saudi Aramco is in talks to buy a minority stake in the refining and petrochemicals businesses of Reliance Industries, Reuters reported citing sources familiar with the development. According to the currently available details, Saudi Aramco is looking to pick up a 25% stake. The source told Reuters that discussions were “serious.”
