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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Reliance Industries Ltd    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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India's Reliance to Merge Media, Distribution Businesses

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02/17/2020 | 09:12pm EDT

By P.R. Venkat

Reliance Industries Ltd. is planning to merge its media and distribution businesses to create a single entity with combined annual revenue of 80 billion rupees (US$1.1 billion).

Under the plan, TV18 Broadcast Ltd., Hathway Cable & Datacom Ltd. and Den Networks Ltd. will merge with Network 18 Media & Investments Ltd., a joint statement by the companies said late Monday.

"The restructuring shall create value-chain integration, and render substantial economies of scale," the statement said. "The scheme shall also simplify the corporate structure of the group by reducing the number of listed entities."

The merger will be executed through a share exchange ratio that will reduce Reliance's holdings in Network 18 to 64% from 75%.

The scheme is subject to necessary approvals, the statement said.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
DEN NETWORKS LIMITED -2.40% 30.45 End-of-day quote.-1.77%
HATHWAY CABLE AND DATACOM LIMITED 0.00%End-of-day quote.0.00%
NETWORK18 MEDIA & INVESTMENTS LIMITED -4.21% 17.05 End-of-day quote.-8.33%
RELIANCE INDUSTRIES LTD -0.28% 1077.45 End-of-day quote.-5.02%
TV18 BROADCAST LIMITED -3.30% 14.65 End-of-day quote.-4.56%
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Financials (INR)
Sales 2020 6 027 B
EBIT 2020 678 B
Net income 2020 448 B
Debt 2020 2 262 B
Yield 2020 0,70%
P/E ratio 2020 14,9x
P/E ratio 2021 12,3x
EV / Sales2020 1,44x
EV / Sales2021 1,36x
Capitalization 6 403 B
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Average target price 1 584,86  INR
Last Close Price 1 077,45  INR
Spread / Highest target 86,6%
Spread / Average Target 47,1%
Spread / Lowest Target 5,34%
EPS Revisions
Managers
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Chief Financial Officer
Nikhil Rasiklal Meswani Executive Director
Hital Rasiklal Meswani Executive Director
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