Sep 11, 2012, 07.54 PM IST
Reliance Industries (RIL) is keen to change its international business strategy. And the company believes, it can do so by exiting almost all its overseas oil and gas blocks, say sources.
The energy giant which has around seven exploration assets abroad want to retain hardly one or two as it does not want to overstretch itself over geographies. The company also feels it is heavily exposed to exploration abroad. Also, overseas blocks need a lot of exploration to start production.
Of the seven blocks, the company has, two each in Peru, Yemen, Columbia and one in Australia . The company has acreages in areas which fall in 'no-contact' region, which would make exploration activities difficult add sources.
Reliance stock price
On December 11, 2013, Reliance Industries closed at Rs 881.00, down Rs 2.55, or 0.29 percent. The 52-week high of the share was Rs 954.80 and the 52-week low was Rs 765.00.
The company's trailing 12-month (TTM) EPS was at Rs 67.88 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 12.98. The latest book value of the company is Rs 557.05 per share. At current value, the price-to-book value of the company is 1.58.
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