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:

Aviation

REUTERS SHOWCASE

Global Economy

Global Economy

EU leaders agree investment package to boost economy.  Full Article 

Oil Prices

Oil Prices

Brent steady below $60, heads for 4th weekly decline as oversupply persists.  Full Article 

Chinese Economy

Chinese Economy

China revises up size of economy in 2013 by 3.4 percent.  Full Article 

Reuters Exclusive

Reuters Exclusive

Google aiming to go straight into car with next Android – sources.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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