During Q4FY23, Ambani s oil-to-energy empire registered a PAT of ₹19,299 crore up by 19.11% YoY and 22.21% QoQ. EBITDA came in at ₹41,389 crore up by 21.8% YoY. O2C business reported a record EBITDA of ₹16,293 crore in Q4FY23 surging by 14.4%.
Brokerage believes that Jio-FS aggressive stance could impact players in payments (like Paytm, and Phonepe) & NBFC lenders like Bajaj Finance. Jefferies watches for attrition at banks/ NBFCs..On RIL, Jefferies is optimistic and has eventually raised its target price on the stock.