Gas price hike to boost Reliance earnings from FY17: Kotak

Jun 28, 2013, 10.31 AM IST
The positive impact of the gas price hike on FY2015-16(estimated) earning per share will be limited given declining production from KG D-6 block.

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Gas price hike to boost Reliance earnings from FY17: Kotak
The positive impact of the gas price hike on FY2015-16(estimated) earning per share will be limited given declining production from KG D-6 block.

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Gas price hike to boost Reliance earnings from FY17: Kotak
The positive impact of the gas price hike on FY2015-16(estimated) earning per share will be limited given declining production from KG D-6 block.

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Moneycontrol BureauReliance Industries ' earnings may not get a meaningful boost near term from higher gas prices, feels brokerage house Kotak Securities. Reliance Industries shares were up 3 percent at Rs 855 Friday, as the market is betting that the proposed hike in gas price will boost the company's earnings for next year.
"RIL will be a beneficiary of higher domestic gas prices; however, the positive impact on FY2015-16(estimated) earning per share will be limited given declining production from KG D-6 block," said the Kotak note to clients.
"We highlight that EPS accretion could be meaningful at higher levels of gas production, which we expect from FY2017E onwards led by commissioning of satellite fields," said the note.
Also read: How gas price hike may impact RIL, ONGC, GAIL, OIL earnings

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