RIL share price trades higher ahead of September quarter earnings

RIL share price trades higher ahead of September quarter earnings

Reliance Industries (RIL) share price gained on October 30 ahead of the company's September quarter earnings announcement later today.

The company, on October 30, is expected to show a strong rebound in Q2FY21 sequentially in retail business amid lockdown easing.

Meanwhile, Jio is likely to maintain its earnings growth on all parameters with the addition of more than 10 million subscribers QoQ.

In fact, all segments are expected to see growth sequentially, except refining, with a flat-to-marginal rise in gross refining margins QoQ, while the petrochemical business may show double-digit growth in operating earnings QoQ, brokerages feel.

"Reliance Jio and Reliance Retail should drive next leg of growth," said Motilal Oswal which expects 29 percent sequential growth in revenue and 8.2 percent QoQ rise in EBITDA (earnings before interest, tax, depreciation and amortization) in the quarter ended September 2020.