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Reliance Industries forays in the Insurance sector
Reliance Industries announced that it (alongwith its associate Reliance Industrial
Infrastructure Ltd) will acquire 74% stake of Bharti Enterprise's in Bharti Axa Life Insurance
Co. and Bharti AXA General Insurance Co. Ltd. However, the company has not disclosed
the value of the proposed deal. On completion of the deal, Reliance Industries will hold
57% in both insurance companies. In FY2011, Bharti Axa Life had collected premiums of
`790cr. Given the anticipated size of the deal and revenues from the deal, we do not
expect material impact on Reliance Industries financials’ over the next few years. We
maintain Buy on RIL with an SOTP-based target price of `1,189.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Reliance Industries forays in the Insurance sector
Reliance Industries announced that it (alongwith its associate Reliance Industrial
Infrastructure Ltd) will acquire 74% stake of Bharti Enterprise's in Bharti Axa Life Insurance
Co. and Bharti AXA General Insurance Co. Ltd. However, the company has not disclosed
the value of the proposed deal. On completion of the deal, Reliance Industries will hold
57% in both insurance companies. In FY2011, Bharti Axa Life had collected premiums of
`790cr. Given the anticipated size of the deal and revenues from the deal, we do not
expect material impact on Reliance Industries financials’ over the next few years. We
maintain Buy on RIL with an SOTP-based target price of `1,189.
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