Jio-Silver Lake deal to help reposition RIL as consumer tech company: Analysts

Mumbai: Reliance Jio’s latest pact with US private equity firm Silver Lake, right after one with Facebook, will help parent Reliance Industries reposition itself as a consumer technology company while global petrochemical and refining business is in for a multi year slump.

“Core energy business could be staring at multi-year slump, but “repositioning as a consumer/technology company” should continue to support stock price,” said brokerage firm JP Morgan.

The brokerage firm explained that although it expects a “sharp recovery” in the refining and petrochemical businesses,” the global outlook is increasingly for a muted recovery, given the global overcapacity and large hit to demand ” in the post Covid-19 phase.