reliance industries (Citi) RIL's Response to DGH Indicates Longer Wait, Further Declines

Reservoir more complex than anticipated; Drilling more wells not an immediate solution; Commissioning of new wells to take 36-44 months; Expects production at c46-47 mmscmd in FY13; E&P could continue to drive near-term stock sentiment
Date Rating Target Price Recommendation Price Broker house
17 May 2011 buy 1120 920 Citi Report

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