India, June 5 -- A state-run Maharatna explorer came into focus on Friday after disclosing its second natural gas discovery in the Andaman shallow offshore basin within the span of nine months, a development that extends one of the more watched frontier exploration campaigns in India's upstream sector.

With a market capitalization of Rs. 78,630.22 crore, the shares of Oil India Ltd were trading at Rs. 483.4 per share, down 1.12 percent from its previous closing price of Rs. 488.90. It is trading at a P/E of 12.37.

The Discovery: Vijayapuram-3 The gas was encountered in the Vijayapuram-3 exploratory well, situated approximately 15 kilometres off the east coast of the Andaman Islands at a water depth of 355 metres. Drilling was carried o...