Reliance industries is set to announce its Q4 results on friday.
Analysts expect a strong show by the company, with higher refining margins and record numbers. Also, some positive announcements about new oil discoveries and telecom business are expected.
The Gross Refining Margin which indicates the petroleum products refined out of crude, is expected to be buoyed by naptha exports and better efficiency. Broking house CLSA maintains a buy rating with over 50% upside in the next 6 months.
A recent press release by Niko (a hydrocarbons prospecting partner of Reliance) reveals an encouraging 1.4 trillion cubic feet resource estimate in the MJ discovery in KG-D6 which could add $0.7 billion to Reliance's fair value
Analysts expect a strong show by the company, with higher refining margins and record numbers. Also, some positive announcements about new oil discoveries and telecom business are expected.
The Gross Refining Margin which indicates the petroleum products refined out of crude, is expected to be buoyed by naptha exports and better efficiency. Broking house CLSA maintains a buy rating with over 50% upside in the next 6 months.
A recent press release by Niko (a hydrocarbons prospecting partner of Reliance) reveals an encouraging 1.4 trillion cubic feet resource estimate in the MJ discovery in KG-D6 which could add $0.7 billion to Reliance's fair value