Most equity and sector analysts are speculating that IPCL might be merged with Reliance Industries soon, based on pointers emanating from the initiatives being taken by Reliance Industries. Analysts point to chairman Mukesh Ambani's AGM speech wherein he had said Reliance Industries was keen to make IPCL a global leader in petrochemicals.
This theory can find support in two factors:
First, naphtha has been replaced by gas as the fuel feedstock in IPCL's Gandhar plant.
Secondly, subsidiaries have been merged with IPCL. This should bring in synergies and help to maintain margins at the current level
19-Jan-07 
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