ONGC paces up ahead of Q1 earnings; what to track
Posted on 2nd August 2018 |
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| NEW DELHI: ONGC stock advanced 1 per cent on Thursday ahead of its first quarter results later in the day. Oil subsidy expectations, management guidance on oil and gas production over FY19 and FY20 and earnings and production outlook of OVL, ONGC's subsidiary, for FY19 will be keenly watched. Brokerage Edelweiss Securities expects the oil major to report 63 per cent surge in core profit at Rs 6,360.90 crore compared with Rs 3,884.7 crore in the year-ago quarter. Revenues are seen rising 35.1 per cent to Rs 25,771.30 crore, from Rs 19,073.50 crore. "We estimate EBTDAX of Rs 13,900 crore (up 22 per cent QoQ) as ONGC will benefit from higher product realisation (offset by subsidy of $5.5 per bbl) and lower opex," the brokerage said. Brokerage Sharekhan said projected earnings would improve to Rs 7,540 crore, up 94.1 per cent YoY, led by higher oil prices, which have jumped 48.5 per cent annually. It sees operating expenses at $8.5 per barrel. Oil and gas production is estimated to rise marginally to 12.5 mmtoe (million tonnes of oil equivalent), led by higher natural gas production. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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