PREVIEW-Reliance Inds to post muted Q2; gas pricing row eyed - Reuters

By
Viraj
on October 26, 2009 1:02 PM | | TrackBacks (0)
MUMBAI, Oct 26 (Reuters) - Weak refining margins will dentquarterly results at Reliance Industries ( RELI.BO ), and a risein gas production at a field off India's east coast and theresolution of a gas pricing row are key to future performance.

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Billionaire Mukesh Ambani-controlled Reliance Industriesand Reliance Natural Resources ( RENR.BO ), led by youngerbrother Anil Ambani, are embroiled in a legal battle over theterms of a deal to sell gas to Reliance Natural at below theprice set by the government. [ID:nBOM489932] "Most analysts have assumed Mukesh will be able to sell thegas at the government approved price of $4.2 per mmBtu," saidR.K. Gupta, managing director of Taurus Mutual Fund. "If the court decides otherwise, there could be asignificant impact on Reliance's future results," said Gupta,whose holdings include several oil and gas stocks, includingReliance.

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This page contains a single entry by Viraj published on October 26, 2009 1:02 PM.

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