Reliance shares gain 3% ahead of Q3 results
NEW DELHI: Shares of Reliance Industries (RILNSE 2.80 %) settled nearly 3 per cent higher on Friday ahead of its financial results for the quarter ended December 31.
The oil-to-telecom giant is expected to report double-digit growth in profit in Q3FY20. There are hopes that telecom and retail businesses may do well, but petchem business may show some weakness. Refining margins for the quarter are likely to stay in $9.2-9.6 range, analysts said.
Brokerage Kotak Institutional Equities sees 15.60 per cent YoY growth in profit on 1.70 per cent dip in sales during the quarter.
