RIL strikes all-time high on new gas discovery
Reliance Industries rose 0.71% to Rs 3240 at 10:02 IST on BSE on reports that it has discovered gas in the Krishna Godavari offshore basin on the east coast of India.
The stock hit a high of Rs 3252.10, a record high for the stock. It touched a low of Rs 3216 so far during the day. The stock hit a 52-week low of Rs 1250 on 5 March 2007.
The large-cap scrip had outperformed the market over the past one month till 11 January 2008, gaining 10.43% as compared to the Sensex’s rise of 3.60%. It had outperformed the market in the past one quarter, advancing 21.87% as compared to the Sensex’s gain of 13.08%.
The company’s current equity is Rs 1453.65. Face value per share is Rs 10.The current price of Rs 3240 discounts Q2 September 2007 annualized EPS of Rs 110.10 by PE multiple of 29.42.
As per reports, Reliance Industries (RIL)'s latest discovery is in the shallow water of the Krishna Godavari basin. This is the company’s third gas discovery in the block. RIL holds 100% participating interest in this block and has christened the discovery as Dhirubhai-38.
RIL is still evaluating how commercial the latest discovery was and it had informed the upstream regulator about it.On 12 November 2007, RIL executed two production sharing contracts covering petroleum exploration activities in the Kurdistan region of Iraq.
RIL’s net profit rose 27.9% to Rs 3837 crore on 6.6% growth in net sales to Rs 32043 crore in Q2 September 2007 over Q2 September 2006. RIL unveils Q3 December 2007 results on Thursday, 17 December 2007.
The stock hit a high of Rs 3252.10, a record high for the stock. It touched a low of Rs 3216 so far during the day. The stock hit a 52-week low of Rs 1250 on 5 March 2007.
The large-cap scrip had outperformed the market over the past one month till 11 January 2008, gaining 10.43% as compared to the Sensex’s rise of 3.60%. It had outperformed the market in the past one quarter, advancing 21.87% as compared to the Sensex’s gain of 13.08%.
The company’s current equity is Rs 1453.65. Face value per share is Rs 10.The current price of Rs 3240 discounts Q2 September 2007 annualized EPS of Rs 110.10 by PE multiple of 29.42.
As per reports, Reliance Industries (RIL)'s latest discovery is in the shallow water of the Krishna Godavari basin. This is the company’s third gas discovery in the block. RIL holds 100% participating interest in this block and has christened the discovery as Dhirubhai-38.
RIL is still evaluating how commercial the latest discovery was and it had informed the upstream regulator about it.On 12 November 2007, RIL executed two production sharing contracts covering petroleum exploration activities in the Kurdistan region of Iraq.
RIL’s net profit rose 27.9% to Rs 3837 crore on 6.6% growth in net sales to Rs 32043 crore in Q2 September 2007 over Q2 September 2006. RIL unveils Q3 December 2007 results on Thursday, 17 December 2007.
Labels: Reliance Industries
posted by SY at 2:26 PM
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