Reliance Industries surges on earnings beat
MUMBAI (Reuters) - Shares in Reliance Industries rose as much as 6 percent in trade, after posting a better-than-expected 24 percent jump in third-quarter net profit. The shares were trading 3.8 percent higher at 10:05 a.m.
The company on Friday posted its first profit increase after four quarters of declining returns, buoyed by improving margins in its core oil refining business.
(Reporting by Abhishek Vishnoi; Editing by Anand Basu)
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The Nifty rose to a record high, and the benchmark BSE Sensex hit its record for a second consecutive session, as foreign investors bet big in a country that just months ago was gripped by market turmoil. Full Article