More global giants likely to bid for NELP-VII

ExxonMobil, the world's largest oil company, and ConocoPhillips and Chevron of the United States, are likely to participate in India's seventh round of the New Exploration and Licensing Policy (NELP-VII), according to Director General of Hydrocarbons V K Sibal.

This will significantly swell the ranks of international oil giants keen to
participate in the auction of oil blocks for exploration and production in
India.

None of the three participated in the sixth round of auctions in March this year, when the government allotted 55 blocks.

Read more in Business Standard

RIL may become India's first $100 bn mkt cap firm

MUMBAI: Reliance Industries, India's most valued firm, may become the first in the country to achieve a market capitalisation of $100 billion, international brokerage and equity research major Morgan Stanley said on Tuesday.

Morgan Stanley's India-based analysts said in a research note sent to the firm's institutional clients that they were raising the consolidated earnings forecasts for RIL in the current and next fiscals.

They also revised upward their one-year price target for RIL shares, while projecting a 35 per cent surge from the current levels in its "base case" scenario.

Morgan Stanley further said in "bull case" scenario, the shares could rise by about 37 per cent, which when translated into market capitalisation would amount to over $100 billion.

Read more at Economic Times