Retail, telecom to support RIL’s journey on bourses

The muted earnings growth from Reliance Industries’ core energy vertical in the quarter ended March may narrow the performance gap between the company’s stock and the Nifty 50 index. The Reliance stock has outperformed the Nifty by 15% in the past three months and contributed to about 25% of the index’s gains.

Profit in the quarter was better than the Bloomberg consensus estimate, but the quality of earnings may weigh on investor sentiment as it was driven by higher other income and lower tax rates.