Nitin Tiwari, VP- Institutional Research, Religare Capital Markets expects Reliance petrochemical margins to be better on a sequential basis. However, RIL may post weak earnings on the back of frail US refining margins, he adds.
Oil and gas major Reliance Industries will report its earnings for July-September quarter later today. Nitin Tiwari, VP- Institutional Research, Religare Capital Markets anticipates the company to announce flattish quarter-on-quarter growth.
He expects Reliance petrochemical margins to be better on a sequential basis. However, RIL may post weak earnings on the back of frail US refining margins, he says in an interview with CNBC-TV18's Anuj Singhal.
According to CNBC-TV18 poll estimates , analysts expect the company to report standalone net profit at Rs 5,600 crore as against Rs 5,649 crore in previous quarter.
Meanwhile, key factors to watch out in its result today are updates on polyester/intermediaries capacities commissioning, status on petcoke gasification and refinery off-gas cracker (ROGC) projects, outlook on E&P business capex and KG-D6 production.
While the stock has underperformed the market recently, it may witness headwinds hereon, Tiwari says adding that the brokerage house is comfortable with company's valuations and thus has a hold rating on the stock with a target price at Rs 950 a share.
Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.
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