Positive on RIL, earnings seen improving in Q1FY18: Religare

Reliance Industries (RIL) yesterday reported its third quarter results. Rohit Ahuja of Religare maintains a positive stance on RIL and expects the earnings before interest and tax (EBIT) margins for the petrochemicals segment to improve in the fourth quarter of FY17.He said the refining macro data looks good and there is no reason to worry about the Gross refining margin (GRM) estimates which he pegs at USD 11 to 12.5 per barrel for the next two to three quarters. At the current levels, RIL offers favourable risk rewards and it is at good inflection point, said Ahuja. He is looking at a big jump in the company's first quarter earnings in financial year 2018. He says there is no reason for the stock to correct sharply from where it is now.Watch video for more....(Disclosure: Reliance Industries owns Network18 Media and Moneycontrol.com)