Reliance Industries rises ahead of Q4 results
Analyst at Angel Broking expect the company's operating margin to expand 121bp yoy to 8.0%, while net profit is expected to increase by 24.7% yoy to Rs 5,282 crore.
Reliance Industries (RIL) has moved higher by 2% at Rs 810, extending Monday’s 2.3% gain, ahead of its Q4 (January-March) results schedule to announce today.
Analyst at Angel Broking expects the company’s top-line to increase 8% year-on-year (yoy) to Rs 92,008 crore due to higher petrochemical prices during the quarter.
The company’s operating margin to expand 121bp yoy to 8.0%, while net profit is expected to increase by 24.7% yoy to Rs 5,282 crore, the analyst says.
In December 2012 quarter, RIL had surprised the Street by posting better-than-expected earnings. During the quarter, better than expected gross refining margins (GRMs) and petrochemical margins helped RIL post a 24% increase in net profit, at Rs 5,502 crore, its third straight quarterly profit increase.
The stock opened at Rs 797 and touched a low of Rs 785 on NSE. A combined 3.36 million shares changed hands on the counter till 1429 hours against an average 3.1 million shares that were traded daily in past two weeks on NSE and BSE.
Analyst at Angel Broking expects the company’s top-line to increase 8% year-on-year (yoy) to Rs 92,008 crore due to higher petrochemical prices during the quarter.
The company’s operating margin to expand 121bp yoy to 8.0%, while net profit is expected to increase by 24.7% yoy to Rs 5,282 crore, the analyst says.
In December 2012 quarter, RIL had surprised the Street by posting better-than-expected earnings. During the quarter, better than expected gross refining margins (GRMs) and petrochemical margins helped RIL post a 24% increase in net profit, at Rs 5,502 crore, its third straight quarterly profit increase.
The stock opened at Rs 797 and touched a low of Rs 785 on NSE. A combined 3.36 million shares changed hands on the counter till 1429 hours against an average 3.1 million shares that were traded daily in past two weeks on NSE and BSE.