Intra day, Reliance Industries rose almost 3% to Rs.1054 and this is less than 1% away from its 52-week high of Rs.1067.

The company is expected to declare its Q3FY16 performance within the next one week (company is yet to declare the date) and the market is certain that it will be a bumper quarter. Most brokerage and fund houses have put out reports saying that the company is expected to show a premium earning on its GRM, expected to be around $11 per barrel, up from $10.6/barrel.

CLSA expects the company’s EBITDA to rise over 50% in the next two years on account of its downstream expansions. In fact CLSA has put out a strong “BUY” stating that 2016 will be one of its best years given the fact that $30 billion worth projects across various businesses will be commissioned.

Overall the mood on the counter is very optimistic. Watch out for our Editor, Mr.SP Tulsian’s Q3 result estimates a day before the company declares its numbers in the Cover Feature segment.