Deepwater Gas Price Ceiling Hiked To $9.89 Per MMBtu; APM Cap At $7
Reliance Industries moved higher.
· NDTV Profit
India raises the ceiling price for difficult-field natural gas to $9.89/MMBtu from $8.90, supporting offshore producers such as Reliance-BP’s KG-D6. The cap for ONGC and OIL legacy gas remains at $7/MMBtu.
The analysis
Against that, the stock is -2.5% on the day at ₹1,177.40, and has returned -7.9% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -0.3% over the same period, so Reliance Industries is running 7.6 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy.
In this story
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