Mayuresh Joshi, Head-Equity Research-India, William O’Neil, says Reliance has always maintained over the last four to six quarters that the O2C leg of the business is expected to ramp up. They have done that and probably the numbers are showing as far as the upstream business of Reliance is concerned.
Among all the segments of Reliance Industries, the oil and gas exploration segment has delivered a big beat, 22% jump on a sequential basis, 50% jump on a YoY basis. Do you see more upside to this EBITDA number of the oil and gas exploration, which stands at close to Rs 5,800 crore currently?
Mayuresh Joshi: I think that is a solid set that Reliance has delivered. Now, to expect a significant upside on the current number is a high probability and therefore the numbers will remain stable and increase at a reasonable pace. But this part of the business, Reliance has always maintained over…
