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:

Reforms Push

REUTERS SHOWCASE

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

26/11 Plotter

26/11 Plotter

Pakistan to challenge bail for Mumbai attack "mastermind".  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  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