Sanju Verma, CEO - Institution Biz, Proactive Universal Group, said even as inventory gains—due to a fall in crude prices in March—may prop up numbers of companies like Reliance Industries and other petchem majors, an investor must wait and watch before buying the stock. The company's EBITDA and refining margins will be under pressure, she said.
"However, it is more about the huge barrage of news that seems to be seeping in every now and then. Their spat with NTPC and RNRL, the fact that at some point there might be a renegotiation of the profit petroleum that they are likely to share with the government," she said.
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