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RIL up after Q2 operating profit beats estimates

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008. REUTERS/Punit Paranjpe/Files

MUMBAI (Reuters) - Shares in Reliance Industries (NSI:RELIANCE.NS - News) rose as much as 3.2 percent on Tuesday after its July-September operating profit beat some analysts' estimates due to better-than-expected margins in its petrochemical business.

Reliance Industries said late on Monday operating profit in the previous quarter rose by 11 percent on a sequential basis to 78.49 billion rupees.

Reliance, which operates the world's biggest oil refining complex in western India, met analysts estimates with a 1.5 percent rise in net profit to 54.9 billion rupees.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)