Reliance Industries (Q2 FY08) - Much stronger than expected: BUY
Reliance Industries (Q2 FY08): Much stronger than expected
CMP Rs2,575, BUY
Target price Rs2,757, Upside 7.1%
ä Refining segment reports robust revenue growth and margin expansion on higher throughput, and record GRMs of US$13.6/bbl.
ä Expansion in petrochemical margins a positive surprise.
ä Firm refining margins and commencement of production of gas from KGD6 in Q2FY09 to drive future growth.
ä   ; Formula for gas pricing resolved, a sigh of relief.
ä 15 more prospects identified in deeper areas of the block to explore upside potential.
ä We recommend a BUY with a sum-of-parts target price of Rs2,757.
Click below for Result Update on Reliance Industries
http://www.indiainfoline.com/adserver/InverstorReport_relindusty_191007.asp
Warm Regards,
India Infolin e Research Team
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