When Reliance Industries, India’s largest company by market value, announces its second-quarter earnings on Friday, they will include the financials of its telecom venture for the first time.
Investors expect Reliance Jio Infocomm, the telecom unit, to post a substantial loss before tax, which may prove to be a drag on Reliance’s consolidated results, notwithstanding positive triggers such as the encouraging response to Jio’s 4G feature phone, a sharp cut in interconnection usage charge and buoyancy in refining margins, all of which have supported the stock.
RIL shares have surged 15.5 per cent in the past three months compared with a 1.2 per cent increase in the benchmark Sensex in the same period. The stock gained 3.8 per cent to Rs 872.50 at the close on the BSE on Thursday. Read More…
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