Reliance Industries got a big boost in its March-quarter earnings from improving profitability at its refining division that helped India’s most valued company deliver profits in line with Street estimates. A continued strength in regional refining margins and optionality of value creation from new energy segments are likely to help the stock sustain its premium valuation. The stock of RIL outperformed the Nifty 50 index by 16% since the beginning of the year and its weight in the Nifty reached nearly 13%.
