Reliance Industries (RIL) has maintained a strong position across all its businesses including Refining & Petrochemicals, Telecom & Digital, Retail and E&P. Analysts are bullish on the company as it expects good growth from several segments. Its refining or O2C segment will benefit from strong refining margins, expected to touch record levels in 2022-23. A report by Bernstein expects margins of Singapore complex to rise to $25.5 a barrel