Key triggers such as tariff hike in telecom, balance sheet de-leveraging and superior growth in Retail segments.

With no new projects announced in Refining & Petrochemicals, Energy business segment is expected to deliver Rs. 600-650 bn per annum. of EBITDA in steady state over next three years, significantly deleveraging the standalone balance sheet.

Telecom: Expect Jio achieving 480-500m subscribers as a key tipping point for Jio to raise tariff from 2nd half of FY21

Value accretion in Retail: Continued growth of >25% CAGR over the next 3-5 year trajectory in its current biz with healthy margins of 8-10% may provide further valuation upsides.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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