Oil India discovers natural gas in KG Basin's shallow offshore waters
Oil India reported results.
· BS Companies
The discovery at the Godavari-1 well in the Matsyapuri formation recorded natural gas flow of up to 2 lakh standard cubic metres per day during continuous…
The analysis
Against that, the stock is -2.0% on the day at ₹447.85, and has returned +1.3% over three months. It sits 14% below its 52-week high. The oil & energy sector has moved -5.7% over the same period, so Oil India is running 7.0 points ahead of its peers.
For Oil India, 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 OIL.
- Sector exposure: Oil & Energy.
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