Mukesh Ambani controlled Reliance Industries expects to post profit for the first time in five quarters. Increase in production from fields off India’s east coast and stable oil prices has helped the company’s bottom line.
Reliance also plans to purchase bankrupt LyondellBasell as a part of its inorganic growth strategy for about $13.5 billion. This acquisition will give the company greater access into Western markets and some premier customers in US and Europe.
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