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Boiling crude, OMC share burden may rise to 20%: Srcs
Published on Wed, May 14 at 16:56 , Updated at Thu, May 15 at 15:46
Source : CNBC-TV18
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Upstream companies like ONGC and GAIL might be hit, if they have to bear an additional 7% subsidy burden. Both the stocks are down today. India’s crude basket is at USD 120.02 per barrel.
FY08 oil subsidy burden is at Rs 77,000 crore.
Sources said OMC share can rise up to 20% of oil subsidy for FY08. Upstream is unlikely to bear additional oil subsidy burden; the burden is limited to 33%. The government may ask OMCs to use refining gains to compensate marketing losses.
CNBC-TV18 Disclaimer This information is source-based and has not been provided to the stock-exchanges. |
By Sajeet Manghat, CNBC-TV18Messages on Market Outlook - Short Term
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Nifty may not see 4000 mark again !!!!
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