MARKET EYE-India's Reliance Industries gains ahead of earnings

Wed Jan 16, 2013 11:58am IST

Related Topics

Stocks

   

* Shares in Reliance Industries gain 2.1 percent after
rival Essar Oil Ltd said it swung to a net profit in
the October-December quarter, with gross refining margins at a
healthy $9.75 a barrel.
* Dealers say Essar results point to potentially improving
refining margins at Reliance when it posts results on Friday. 
* Reliance is expected to report its first profit increase after
four quarters of declining profits, according to consensus of
analyst estimates, Thomson Reuters Starmine data showed.
* Reliance shares also gain after a Press Trust of India report
carried in the Business Standard newspaper says recent
recommendations from a government-appointed panel to look at gas
pricing will be submitted to the cabinet for consideration,
citing ministry sources.
* Those recommendations are expected to lead to higher gas
prices. 
* Reliance declined to comment on the matter.

 (abhishek.vishnoi@thomsonreuters.com /;
prashant.mehra@thomsonreuters.com)
FILED UNDER:

Reuters Showcase

IS Claim

IS Claim

Islamic State says beheads second Japanese hostage.  Full Article 

Ukraine Crisis

Ukraine Crisis

Death toll mounts in Ukraine fighting after peace talks fail.  Full Article 

Fifth Title

Fifth Title

Djokovic reigns supreme at Australian Open.  Full Article 

Journalist Freed

Journalist Freed

Jailed Al Jazeera journalist Peter Greste leaves Egypt for Australia.  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut.  Full Article 

Doubles Title

Doubles Title

Hingis wins Australian Open mixed doubles title with Paes.  Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

Supply Glut

Supply Glut

Sugar mills seek govt help to dispose of supply surplus.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage