Reliance Industries gains ahead of earnings

Wed Jan 16, 2013 5:34pm IST

The control room of the Reliance Industries KG-D6 facility located in Andhra Pradesh is pictured in this undated handout photo. REUTERS/Reliance Industries/Handout

The control room of the Reliance Industries KG-D6 facility located in Andhra Pradesh is pictured in this undated handout photo.

Credit: Reuters/Reliance Industries/Handout

Related Topics

Stocks

   

Reuters Market Eye - Shares in Reliance Industries(RELI.NS) ended up 1.7 percent, after rising as much as 2.8 percent in trade, as rival Essar Oil Ltd(ESRO.NS) 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.

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Barack Obama in India

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

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