Reliance Industries better placed than rivals to beat crisis

Reliance Industries’ net debt will fall even if energy and retail demand struggles for six months and the planned asset sales are delayed, according to analysts at Morgan Stanley.

RIL has been looking to hawk 20 per cent of its oil-to-chemical business to Saudi Aramco. The proposed deal is crucial in its aim to become a zero net debt company by March 2021. RIL had a net debt of Rs 1.53 lakh crore at the end of the third quarter of 2019-20.

The company is also looking to monetise its holdings in other businesses that includes telecom.