Reliance Industries (RIL) is expected to post its first quarterly profit increase in five quarters on the back of higher gas production from fields off India’s east coast (KG Basin). RIL should benefit as refining margins recover after almost halving in the December quarter, and as gas output from the Krishna Godavari (KG) basin reaches a peak of 80 million standard cubic metres a day (mmscmd) by April. The gas business will help RIL’s bottomline for this quarter and for many years to come. New gas discoveries are also going to coming up frequently. Continue reading Reliance Industries (RIL) profit to rise for first time in five quarters
Reliance Natural Resources Limited (RNRL) has informed to the NSE and BSE that: “The rumours of an imminent out-of-court settlement with RIL on our gas supply dispute are completely baseless and speculative”.
The above clarification follows a rumour in the Indian capital markets yesterday and today that some sort of out of court settlement is being worked out between Anil Ambani (RNRL) and Mukesh Ambani (RIL).