According to a report, Reliance Industries Ltd., an Indian billionaire and Asia’s largest dhankuber Mukesh Ambani, is offering to sell a stake of about $ 20 billion to Amazon.com Inc. in its retail business. The information was provided by a source on the condition of anonymity.
Biggest Deal for India as well as for Amazon
The report quoted a source with knowledge of the matter as saying that Reliance wants to sell up to a 40% stake in its retail business to Amazon. According to a report, Amazon is interested in investing in Reliance Retail Ventures Ltd. According to sources, Mumbai-based Reliance Industries is set to sell a 40 percent stake in its Amazon subsidiary. If the deal is successful, it will not only create competition in the Indian retail market but will also increase the dominance of the world’s richest Jeff Bezos and Asia’s richest man Mukesh Ambani, who is one of the world’s fastest-growing consumer markets. According to the data, this $ 20 billion deal that will be the biggest deal for India as well as Amazon.
Reliance cross the $ 200 Billion Market Cap
As of now, an Amazon representative declined to comment on the deal. A Reliance spokesperson said that as a policy, we do not comment on media speculation or rumors. Our company has evaluated various opportunities on an ongoing basis. Let us know that on Thursday, Reliance’s stock gained up to 6%. Thus Reliance became the first listed company in India to cross the $ 200 billion market cap. Shares of Reliance Industries Limited took a long jump from the start of trading on the stock exchange on Thursday, with the company’s market capitalization crossing Rs 14 lakh crore. Reliance Retail is seeing a strong boom after Silver Lake’s investment in Reliance Retail. The stock set new record levels today. With this, the company’s market cap has reached close to 15 lakh crores.
RELIANCE at a New Peak
In today’s business, the market cap of RELIANCE has reached 15 lakh crore rupees. RELIANCE became the first Indian company to have a market cap of $ 200 billion. After Jio, now value unlocking has now been seen in Reliance Retail. According to media reports, negotiations are on for investment in Reliance Retail.
HSBC has given a target of Rs 2,020 recommending investment in RELIANCE IND which was achieved today and the stock has gone beyond that. HSBC says the valuation of Reliance Retail is as per estimates. We may see more investment in Reliance Retail.
CITI has recommended the purchase of a RELIANCE IND with a target of 2,250. CITI says that the valuation of Reliance Retail is as expected. Strategic investment in O2C will be monitored. Now monetization of Reliance Retail has started. Further investment is expected.
Morgan Stanley recommends buying at RELIANCE IND with a target of 2,247. MS says that Silver Lake has valued the valuation of Rel Retail at $ 57 billion, which is according to estimates. RIL’s strength will increase further after Kovid. CREDIT SUISSE is of the opinion that the impact of the initiative is yet to be seen in RIL and grocery integration.