The stock could see an upswing if the settlement of the dispute with NTPC and RNRL for the sale of natural gas from KG basin, works out in RIL's favour.
The Bombay High Court had restrained RIL from selling natural gas to third parties and the case is to come up on hearing on July 22.
While analysts believe that earnings will be flat for Q1 FY09 (results are expected this week), higher refining margins at $16.5-$18.5/bbl reflecting higher petroleum product demand and petrochem prices due to stronger-than-expected petrochemical cycle are positive triggers for the stock.
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