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RIL share price rises 2% ahead of March quarter earnings

Gross refining margin for the quarter is likely to be around $8.0 a barrel against $9.2 a barrel in December quarter 2019.

April 30, 2020 / 11:18 AM IST

Reliance Industries (RIL) share price rose 2 percent in early trade ahead of its March quarter earnings.

The company's January-March quarter earnings are expected to get strong support from Jio business, though refining business could see some decline due to fall in oil prices and nationwide lockdown, according to brokerages.

Brokerages feel the consolidated profit and revenue may see marginal decline sequentially due to some weakness in the refining business, but margin may get support from petrochemicals and telecom segments.

Also Read - RIL to report Q4 earnings today: Jio business expected to support numbers

Gross refining margin for the quarter is likely to be around $8.0 a barrel against $9.2 a barrel in December quarter 2019.

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At 09:33 hrs Reliance Industries was quoting at Rs 1,445.95, up Rs 19.75, or 1.38 percent on the BSE.

Disclaimer Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.



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Moneycontrol News
first published: Apr 30, 2020 10:01 am
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