With crude reaching 65$ and OPEC not cutting down on the output, see the crude to stumble more. May be lower 50$/barrel.
Considering this Selan too is falling it has reached 371Rs as of posting now.
Last quarter their profit was 9.57 crore with EPS of 5.84 (data from moneycontrol.com).
With new wells going into production, inspite of the drop in crude, profit could remain the same or marginally better. It is quoting at P/E of 14 against industry PE of 12 (data from moneycontrol.com). There might still be correction of 25 to 50 rupees to make it in line with industry PE.
I think we are seeing bottom of Selan and recommend buying it around 350 or so. If you are having this shares, my advise is to hold on to it. Any increase in crude will ensure that price of Selan too will jump up.
Considering this Selan too is falling it has reached 371Rs as of posting now.
Last quarter their profit was 9.57 crore with EPS of 5.84 (data from moneycontrol.com).
With new wells going into production, inspite of the drop in crude, profit could remain the same or marginally better. It is quoting at P/E of 14 against industry PE of 12 (data from moneycontrol.com). There might still be correction of 25 to 50 rupees to make it in line with industry PE.
I think we are seeing bottom of Selan and recommend buying it around 350 or so. If you are having this shares, my advise is to hold on to it. Any increase in crude will ensure that price of Selan too will jump up.
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