Reliance Industries rose 3.75% to Rs 2,433 at 11:23 IST on BSE after the company said on Tuesday, 1 April 2008, it had made second gas discovery in deepwater exploration block off the east coast in Krishna Basin.
The stock hit a high of Rs 2,455 and a low of Rs 2,400 so far during the day. The stock had a 52-week high of Rs 3,252.10 on
The company’s current equity is Rs 1,453.65 crore. Face value per share is Rs 10.
The current price of Rs 2,433 discounts its Q3 December 2007 annualized EPS of Rs 222.26, by a PE multiple of 10.94.
Reliance Industries net profit rose 162.2% to Rs 8,079 crore on 22.7% rise in sales to Rs 34,590 crore in Q3 December 2007 over Q3 December 2006.
The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, the company said in a statement. Reliance Industries (RIL) holds 90% participating interest (PI) and Hardy Exploration and Production India Inc holds 10% of PI in the block. RIL has made four discoveries, two in
Reliance Industries is engaged in oil refining, producing and distributing plastic and intermediates, polyester filament yarn, fibre intermediates, polymer intermediates, crackers, chemicals, textiles. It is also into exploration and production of oil and natural gas.
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