Reuters Market Eye - Oil and gas explorer Selan Exploration Technology surges 7 percent.
Heads towards biggest daily gain since Sept.
Stock jumps in anticipation of production ramp-up, say traders.
Broker Sharekhan says company is taking steps to commercialise some of the 11 wells drilled earlier in 2014.
Says management guides production volumes of 0.5-0.6 mln bbl annually in the next 2-3 years, up from 0.16 mln bbl in FY14.
Recent slump in crude oil prices already discounted, traders add.
Also Read
Selan trading at 10.8x of F12M earnings compared with 24.35x for rivals.
(Reporting by Abhishek Vishnoi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app