RIL to focus on bringing down net debt to zero

Mumbai: Investors have their hawk eyes on Reliance Industries Ltd’s (RIL) debt, especially so after the company has guided to bring its consolidated net debt to zero in eighteen months.

On that front, there is some relief, point out analysts from Jefferies India Pvt. Ltd. “Strong standalone cashflow helped by a release in working capital from high contract liabilities left consolidated net liabilities Rs 1,600 crore lower quarter-on-quarter on a like-for-like basis to US$36.1 billion,” point out Jefferies in a report on 20 October.

What’s more, there is good news on the capital expenditure (capex), too. RIL’s Q2FY20 press statement said, its capex for the quarter ending September was Rs 19,075 crore (or $2.7 billion).

All-In-One plans launched

Alot has changed with Reliance Jio in the last few weeks and after the introduction of IUC minutes for its subscribers, the subscription plans became more confusing than ever. As a Jio subscriber, you now had to make the regular prepaid charge along with IUC minutes top-up plan and more. To ease up the confusion, Jio restructured its pricing for its prepaid plans recently. Hence, this week, Jio has introduced new All-In-One plans for its prepaid subscribers. The Jio All-In-One plans are suited for those subscribers who are confused with Jio’s messed up pricing and plans structure.