Telecom Business Remains a Key Driver
Sudip Bandyopadhyay, Group Chairman, Inditrade Capital in an interview to ET Now said: “Telecom has performed well. ARPU met expectations, and customer additions are happening at a scorching pace, even outpacing Bharti Airtel. This segment will remain a core pillar of Reliance’s financials.”
Stock Reaction and Market Outlook
When asked about potential market reaction, Bandyopadhyay noted: “Overall, the results are in line with expectations. O2C and retail segments performed well, supported by the festive season and GST relief. ARPU rose as expected. Any comments from management on the Jio listing will guide broker reports and market reaction.”
Jio Listing: Unlocking Shareholder Value
On the upcoming Jio listing, likely in the first half of next year, he added: “There are two possible routes: a separate IPO or a demerger like Jio Financial Services. Either way, Jio is a fast-growing business with huge scope for value creation. We’ll have to wait and see how management proceeds.”
O2C, Digital, and FMCG Segments
Regarding O2C and digital services, Bandyopadhyay said: “O2C delivered as expected, though the segment is volatile due to global crude price changes. Digital and FMCG numbers will be interesting to watch, especially since FMCG is now a separate subsidiary. The new energy business is also worth monitoring.” New Energy and Capex Plans
On Reliance’s 75,000 crore new energy capex, he commented: “It’s too early to expect major announcements. Any commentary on performance or value unlocking will be closely watched by the market and brokers.”
Long-Term Investor Perspective
Bandyopadhyay concluded with advice for investors: “Reliance is a fantastic company with all growth levers in place. Investors should take a three- to five-year view. Value unlocking across telecom, retail, FMCG, and new energy will happen over time. Stay invested and be patient.”
Reliance Industries’ diversified business model, strong telecom and retail performance, and future growth prospects make it a key focus for long-term investors looking at sustained value creation.