Reliance Industries shares gained as much as 2.8 per cent intraday on Monday ahead of its Q3 results later in the day. Market experts are predicting a double digit growth from the quarter ended December 2015.
At 2.05 pm, RIL shares were trading 2.21 per cent up at Rs 1039.15. The scrip opened at Rs 1018 and had touched a high and low of Rs 1047 and Rs 1015.20, respectively, in trade so far. Later, the scrip settled 2.51 per cent up at Rs 1043.60.
KR Choksey Shares and Securities expects a good quarter for RIL with net profit growth of 73 per cent yoy and 37 per cent on qoq basis.
According to Sharekhan, RIL is expected to post double digit growth for the quarter ended December 2015.
Reliance Industries Ltd’s telecommunications unit also said its board had approved a plan to raise Rs 15000 crore ($2.2 billion) via rights issue of shares to existing shareholders, ahead of an expected launch of its services in the second quarter.