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India's Reliance posts best day in over six years as oil business, Jio Platforms lift outlook
Reliance Industries shares jumped 11.6% on Monday, posting its best session in six and a half years, as a stronger-than-expected quarter fuelled optimism that momentum in its oil and telecom businesses can drive earnings growth despite weakness in retail. Billionaire Mukesh Ambani’s Reliance posted a 40.6% surge in September-quarter net profit to 255.48 billion rupees ($2.69 billion), beating analysts’ estimate of 214.19 billion rupees, helped by stronger refining and petrochemical margins. The results highlighted the growing earnings contribution from Reliance’s oil-to-chemicals (O2C) and tel...
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