Friday, 16 June 2017

Midcap outperforms Sensex, Nifty hovers around 9600; Wipro down 2%

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Reliance and British Petroleum announced a USD 6 billion plan to develop discoveries in the D6 block which will deliver sustainable production of 30-35mmscmd beyond 2022.

The partnership has also been expanded beyond upstream to focus on fuel marketing, unconventional energy and new technology initiatives, to deliver value to customers.

"While these are clear long-term positives, start of projects worth over USD 40 billion in next 6- 9 months remains the key near-term trigger for the stock," CLSA said while retaining buy call on the stock.

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