Counting Rs 4 lakh crore loss in RIL? Dangote refinery listing in Nigeria could trigger a 30% rally

Reliance Industries could see a re-rating of its oil-to-chemicals business as the planned Dangote Petroleum Refinery listing provides a global valuation benchmark, says YES Securities. The brokerage sees up to Rs 1 lakh crore of potential O2C valuation uplift and retains a Buy rating on Reliance with a Rs 1,660 target price.