In an interview to CNBC-TV18, Rohit Ahuja, Senior VP Research, BOBCAPS shared his expectations from the Reliance Industries Ltd’s (RIL) Q2 earnings.
Stock has run up quite a bit and most of the recent run up has to do with gross refining margins (GRMs) doing very well, he said.
There is a strong case for about 10-15 percent on earnings upgrade on petrochemicals and refining business because GRMs are trending much higher than expected. That is what helps RIL’s earnings the most, he added.
On Jio, he said, any clarity on Jio is going to be positive.
I am expecting around USD 13 per barrel on GRMs, said Ahuja.
I don’t see a major fall in the stock from hereon on any disappointment from Jio’s numbers, he further mentioned.
For full interview, watch accompanying video...Disclosure: Reliance Industries, the parent company of Reliance Jio, owns Network 18 that publishes Moneycontrol.com.