Let’s discuss Reliance as it’s now valued at over 11 lac crs. It was able to successfully raise equity through rights and has also been able to sell stake in RJio, it’s subsidiary which has been valued at 4.5 lac crs. It’s consolidated EPS for FY20 was 63.49. Now let us assume that it is able to entire holding in RJio and gets 4.5 lac Cr of cash out of which it’s has already got about 1.25 lac cr. This 4.5 lac Cr may get it cash earning of 27000 Cr (6% interest) on yearly basis. Accounting for tax at 35% it will retain about 2.2 lac crs which divides by today’s market cap will add EPS of Rs

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