RIL Q1: Petrochemicals shine, Retail and Jio emerging as growth drivers

Petchem along with refining to continue driving earnings

The markets approached Reliance Industries’ (RIL) June quarter (Q1) results with cheer as the stock gained 1.73 per cent on Friday, ahead of the announcement. While expectations have proved right, the better than estimated results suggest there could be more upside in the RIL stock. Already, the company’s global depository receipts (GDRs) listed on the London Stock Exchange were up 2 per cent, at the time of going to press.

Investments in core businesses such as petrochemicals, and new ones like telecom (Jio) are now paying well. RIL saw exceptionally strong performance by the petrochemicals segment, which beat analysts’ expectations