Reliance Industries: Jio IPO, Strong O2C Performance Drive Optimism Amidst Retail Weakness

• 95% of analysts recommend 'Buy' for Reliance Industries after Q3 earnings, despite some retail sector challenges.
• Q3 revenue rose to ₹2.65 lakh crore, with EBITDA reaching a seven-quarter high of ₹46,018 crore.
• Oil-to-chemicals (O2C) business showed strong growth with EBITDA of ₹16,507 crore, while oil and gas EBITDA declined.
• Reliance Retail saw 8.4% YoY growth, and Jio's ARPU improved to ₹213.7; Jio IPO is stated to be imminent.
• Brokerages like CLSA, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, Kotak, and Jefferies maintain 'Buy' or 'Overweight' ratings, citing catalysts like Jio listing and new energy projects.

Why It Matters: Reliance Industries shows resilience with strong O2C and Jio performance, and an imminent Jio IPO.