Reliance Industries has asked the oil ministry to break the logjam and approval for its KGD6 capex plans of USD 1.6 bn for FY12 and FY13.
According to sources the government had verbally agreed to the capex plan on August 7 but still has to given written approval. The government wants to give approval once RIL agrees to the CAG undertaking a finance and performance audit. In a letter dated October 4, RIL asked the oil ministry to de-link the CAG audit and approvals for KGD6.
Reliance stock price
On November 27, 2015, Reliance Industries closed at Rs 979.05, down Rs 8.65, or 0.88 percent. The 52-week high of the share was Rs 1067.00 and the 52-week low was Rs 796.75.
The company's trailing 12-month (TTM) EPS was at Rs 74.73 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 13.1. The latest book value of the company is Rs 667.36 per share. At current value, the price-to-book value of the company is 1.47.
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