Wednesday, April 1, 2009

ONGC - Stock watch

ONGC
Last week's close (Rs) 1,548.38 
Prev. week’s close (Rs) 1,338.88 
Week’s high (Rs) 1,582.70 
Week’s low (Rs) 1,352.00 
Last week’s ave. daily turnover (Rs cr) 1,422.74 
Prev. week’s ave. daily turnover (Rs cr) 825.16 
Number of up/down move 4/1

Reliance Industries (RIL) shares will be in the limelight on announcement late last week that the company has entered into gas sales and purchase agreements with twelve fertiliser sector players.

These include public and private sector units such as NFCL, RCF, IFFCO, GNFC and Tata Chemicals. The signing of agreements with customers is a precursor to the initial start of gas production of around 15 mmscmd in April. RIL is expected to reach peak production of 80 mmscmd in a year’s time.

RIL would sell gas to the companies at $4.20 per mmbtu for a period of five years. Reliance Gas Transportation Infrastructure, a group company along with GAIL and GSPC will be transporting gas to the fertiliser companies. At Rs 1,548, the stock is trading at around 15 times of its trailing EPS.

source : business-standard