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RIL: Refining margins weak

Lower than anticipated gross refining margins (GRMs) pulled down the Reliance Industries (RIL)’s refining margins for the September 2009 quarter as a result the company’s earnings fell 6 per cent year-on-year though they rose 5 per cent sequentially. GRMs for the quarter were at $6 a barrel compared with $6.8 a barrel in the June quarter. However, the petrochemicals business

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