Summary
YES Securities suggests that the planned listing of the Dangote Petroleum Refinery in Nigeria could provide a global valuation benchmark, potentially leading to a re-rating of Reliance Industries' oil-to-chemicals business. The brokerage anticipates up to Rs 1 lakh crore in potential O2C valuation uplift and maintains a 'Buy' rating for Reliance with a target price of Rs 1,660.
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