Niko Resources Ltd NKRSF

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[Dell1]

Analysts added the $160-million payment would not be a major deterrent for Reliance in the current scenario of rig rates and rig utilisation. “Rigs are now easily available. Rig rates across categories have gone down by 20-40 per cent,” said an industry source on condition of anonymity

Other analysts see this as a positive move for the company if it plans to take up capital expenditure later. “Six months later you will probably get the rig at a better rate if you plan to undertake capex then,” said a second analyst with another brokerage firm.

https://wap.business-standard.com/article/companies/low-rig-rates-may-have-led-ril-to-scrap-drillship-deal-116100400706_1.html