{"id":418876,"date":"2021-06-05T10:31:45","date_gmt":"2021-06-05T05:01:45","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=418876"},"modified":"2021-06-05T12:27:50","modified_gmt":"2021-06-05T06:57:50","slug":"ril-unlikely-to-see-any-earnings-upgrades-says-clsa","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ril-unlikely-to-see-any-earnings-upgrades-says-clsa\/","title":{"rendered":"RIL unlikely to see any earnings upgrades, says CLSA"},"content":{"rendered":"<p>MUMBAI: Shares of Reliance Industries have surged over 13 per cent in the past week on hopes of big earnings upgrades due to the rise in petrochemical spreads. However, CLSA believes that earnings upgrades are unlikely. The brokerage said RIL NSE -0.87 %&#8217;s annual report does not mention Saudi Aramco deal, which means that the deal is not imminent and this may limit near-term upside for the valuation of its oil-to-chemicals business.<\/p>\n<p>&#8220;Spot petchem spreads may drive a $500 million or 3 per cent uptick in Reliance\u2019s consolidated FY23 Ebitda or a $4 billion addition to its fair value. But this may not be large enough to offset the risk to the optimistic recovery in refining margins or a telecom tariff hike that are baked-into our estimates,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Shares of Reliance Industries have surged over 13 per cent in the past week on hopes of big earnings upgrades due to the rise in petrochemical spreads. However, CLSA believes that earnings upgrades are unlikely. The brokerage said RIL NSE -0.87 %&#8217;s annual report does not mention Saudi Aramco deal, which means that the deal is not imminent and this may limit near-term upside for the valuation of its oil-to-chemicals business. &#8220;Spot petchem spreads may drive a $500 million or 3 per cent uptick in Reliance\u2019s consolidated FY23 Ebitda or a $4 billion addition to its fair value. But [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-418876","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/418876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=418876"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/418876\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=418876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=418876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=418876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}