Money spinners: 11 stocks you can buy when market corrects
Sat, Sep 14, 2013 at 11:56
Target price: Rs 1,010
Rationale: In case of the upstream exploration business, RIL has got the nod for further investments in exploration at the Krishna-Godavari basin, which augurs well for the company and could address the issue of falling gas output.
Further, the CCEA has approved a new gas pricing formula, which increases the price of gas to $8.4/mmbtu from $4.2/mmbtu and augurs well for the company. This could provide further upside to the company’s earnings.