RIL shuts 8th well in KG-D6 basin - Angel Broking

Media reports suggests that Reliance Industries (RIL) has shut its eighth well on the main gas fields in KG-D6 block on January 9, 2013, leading to output plummeting to all time low of 21mmscmd. Prior to this, on November 29, 2012, it had shut B4, the seventh well on D1&D3 field. This development is on the expected lines since the management had guided for lower production during CY2013.

Hence, we maintain our estimates and Neutral rating on the stock.

Source : Equity Bulls

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