O2C, new energy biz likely to be valued at over $100 bn: Report

Reliance Industries’ plans for investing ~75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (~2.6 trillion) for the new energy business, Bernstein Research said in a report. RIL currently has three verticals — oil-to-chemicals (O2C) that houses oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. The brokerage has put a valuation of over $69 billion for the O2C business, $66 billion for digital services and $81.2 billion for retail.