Reliance Industries: One, two, three, all fall down ::Kotak Securities PDF link

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Reliance Industries: One, two, three, all fall down
` Sharp decline in refining margins to impact profits of refining segment
` Sustained contraction in petchem margins to hurt profits of chemical
segment
` Decline in KG D-6 gas production may continue for 2-3 years
` Retain REDUCE; buyback may support stock price

http://www.kotaksecurities.com/pdf/indiadaily/indiadaily06032012.pdf