Reliance is seeing growth across its retail, Jio, financial services demerger, and oil and gas businesses. The demerger will unlock approximately Rs 85,000 crore over the next several years. Despite its relatively strong cash flows, the company's ROEs are not currently high. Reliance's earnings this quarter are expected to be significant. In contrast, the consumer durables sector, particularly those involving staples and basic FMCGs, are expected to suffer from compressed margins.