HPCL, BPCL, IOC closes at lifetime high
Posted on 19th July 2016 |
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| Shares of oil marketing companies (OMCs) are on a roll with all three listed firms – Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) – closing at their respective lifetime highs on the Bombay Stock Exchange (BSE) on Tuesday. These stocks closed higher between 3%-5%, as compared to 0.15% rise in the S&P BSE Sensex today. In past two-months, all these three stocks outperformed the market by surging between 20%-33% as compared to 9.4% gain in the benchmark index. OMCs’ economic moat is widening, led by scope for meaningful increase in marketing margins and profitability, slower ramp-up by private marketers, high volume growth, aided by expected GDP boost, and improving balance sheet with increasing cash flow, according to analysts at Motilal Oswal Securities. Analysts at Antique Stock Broking expect OMCs to report sequentially flat earnings, with exception of IOCL, where earnings are likely to stand better on lower base of 4QFY16. The weaker refining margins would likely get offset by plausible inventory gains and healthy fuel consumption growth during the quarter. Meanwhile, besides these three stocks total 20 scrips include – PVR, UltraTech Cement, Somany Ceramics, Manpasand Beverages, Bajaj Auto, Dalmia Bharat and Bajaj Finserv – from the BSE500 & Nifty 500 have hit record highs during intra-day trade today. |
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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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