Oil major Reliance Industries (RIL) troubles seem never-ending, with the most recent one being Canada's Niko Resources, which co-owns KG-D6 along with RIL and BPL Plc, cutting estimates of the KG-D6 field's reserves by 80%.
Reacting to this news, analysts are taking a re-look at the stock. They say issues like declining output from KG-D6, subdued downstream margins, limited clarity on strategy to deploy excess cash along with the latest one being Niko’s downward estimates will impact company stock which fell around 4% following this news which came in on Wednesday.
Find out what exactly are brokerages saying about RIL post Niko’s downward revision.
