In a chat with ET Now Sanjeev Panda , Research Analyst, Sharekhan, says while he expected margin to be on the higher side, the GRM numbers completely surprised him. Edited excerptsI am extremely surprised with the kind of PAT number they have reported and especially because of the GRM. In the petchem business , I was broadly positive that the margin would continue to be on the higher side but GRM has absolutely surprised me.It is going to be a positive reaction obviously. I am keeping my finger crossed and not really factoring in any number at this point of time to bottom line numbers.For me Reliance is my top pick at this point of time in this space. We need to look at how we expect some commentary from them to understand how they can manage such a phenomenal GRM, way above our estimate .Bottom line performance is extremely good.

Source: Economic Times July 16, 2016 03:20 UTC