RIL could witness moderate gain: StanChart Sec

Rahul Singh, Head of Equity Research, Standard Chartered Securities feels Reliance Industries could witness moderate gain from the current level after good results in Q3.
 
Singh told CNBC-TV18, “Reliance Industries’ Q3 numbers were good and refining margin is better than expectations. The market will extrapolate the trend which will be better for the stock. But I think it will be off-set by continued disappointment on the gas production where the guidance looks to be flat to declining till fiscal 2015 and non extension of buyback. The share could witness moderate gain from the current level.”