MARKET EYE -India's Reliance Industries up on KG-D6 discovery hopes
* Shares in India's Reliance Industries Ltd rise 1.8 percent, adding to Friday's 5.7 percent gain, after KG-D6 block partner BP Plc highlighted recent discoveries in two blocks as "potentially commercial" in its annual report out on Thursday, dealers say. * BP did not provide any indication of the size, but CLSA sees potential for "the largest" discovery in KG-D6, noting that another partner in the block, Niko Resources Ltd, had last year also cited a significant gas recovery. * CLSA further predicts Reliance could post a record quarterly net profit of 57.1 billion rupees ($934.6 million) in the January-March quarter, up 4 percent from the previous quarter, citing improving gasoline spreads, rising gross refining margins and a rise in gas and crude production. ($1 = 61.0950 rupees) (firstname.lastname@example.org / email@example.com)
© Thomson Reuters 2016 All rights reserved.