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Best time to book profits in Reliance Retail.
Reliance Retail has hit market cap of ₹13,47,409 crores. Total valuation of Reliance Industries is ₹13,38,000 cr which exceeds total valuation of Reliance Industries.
The valuation seems stretched considering Reliance Industries will split the shares in 3 business -
Reliance Oil & Gas
Although Reliance Retail as a standalone business is still not overvalued. We are moving our rating to 2 - Sell and would advice investors to book profits in Reliance Retail.
Instead, one should look at Bazar India which is again in Retail business and undervalued counter as an alternative. This company has a similar business model of V-mart and right now is 1/4th size of V-Mart in terms of Revenue.
V-Mart total valuation is ₹7,000 cr whereas Bazar India total valuation is ₹125 cr making it highly attractive investment.