Epic Research

Friday, June 28, 2013

Epic Update : Oil India


stock tips epic researchOil India aims to boost its profit by Rs 1000 crore annually, taking advantage of the increase in gas prices, as natural gas segment contributes about 10-12% of Oil India’s revenues. On June 27, 2013, the government has approved a gas price hike for the first time in three years, which will raise the domestic gas prices around $8.4 per mmBtu from April 1, 2014, compared with $4.2 per mmBtu currently. This price hike will incentivize the state-run producer to get more aggressive in exploration activity. 

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