RELIANCE INDUSTRIES Q2FY15 PERFORMANCE

Reliance Industries beat all market and analyst expectations with much higher net profit on the back of better refining margins with the petchem margins also living up to expectations. Gross Refining Margin (GRM) for the quarter was not expected to be above $8/barrel given the fall in Singapore GRM but it came in at $8.30/barrel.  And the market is sure to react positively to this uptick in GRM.