The Container Store Group (TCS) Misses Q2 EPS by 4c, Slight Miss on Revenues; Reaffirms FY18 EPS/Revenue Outlook

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Go back to The Container Store Group (TCS) Misses Q2 EPS by 4c, Slight Miss on Revenues; Reaffirms FY18 EPS/Revenue Outlook

After years of global success, India's Reliance Industries faces oil shock at home

October 29, 2018 3:52 AM EDT

By Koustav Samanta and Promit Mukherjee

SINGAPORE/NEW DELHI (Reuters) - Reliance Industries , currently India's second most valuable listed company, got rich by trading fuel across Asia, Africa and Europe while effectively ignoring its home market.

Reliance's refineries processed crude from the nearby Middle East and sold fuel to fast-growing markets in North Asia including China, Japan, South Korea and Taiwan.

That began to change when India's oil demand surged, overtaking Japan as the world's third-biggest consumer. Reliance took more interest in the country's retail fuel sector and has opened more than 1,300 service stations.

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