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    Buoyant

    The rise of Jio and sustained growth in refining and petrochemicals have fuelled the growth of Reliance Industries.
    by Nevin John Nov 25, 2017 3 minutes

    Over the past six years, the Mukesh Ambani controlled Reliance Industries (RIL) raised many eyebrows with its investment decisions. The company spent over Rs3 lakh crore to build the 4G business under Reliance Jio, and to integrate the refining and petrochemical businesses at a time when its humongous capital expenditure cycle was higher than its market valuation. While the expansion of the established businesses was justifiable, investments in the greenfield telecom venture of over Rs2 lakh crore stunned investors. Doubts were raised about the profitability of the telecom venture in a crowded and highly competitive market.

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