MF assets declined to Rs 22.8 lakh crore in December 2018 from Rs 23.4 lakh core in Nov 2018 on the back of moderation in the flows in equity funds and outflows from liquid funds.
IOC Chairman Sanjiv Singh said the Rs 5,151-crore terminal is complete and would be commissioned after completion of dredging of the channel that will bring cryogenic ships carrying natural gas in its liquid form to the port.
Indian Oil Corp (IOC) plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary, Chennai Petroleum Corp Ltd (CPCL) and build a brand new 9 million tonnes unit in next 5-6 years.
Crude is the key raw material for oil marketing companies and a major portion of operating expenses for airline firms. So any fall in oil prices is always beneficial for these companies including paint makers.
Anita Gandhi, Whole Time Director at Arihant Capital Markets agreed with Vineeta, saying high dividend yield & falling oil prices have given good safety to the investor in holding stock for the long term.
The S&P BSE Oil & gas was up half a percent led by IOC which added 1.4 percent followed by HPCL, Castrol India, BPCL, GAIL India, Reliance Industries and Oil India Limited.
The board of IOC last week approved buyback of up to 29.76 crore equity shares, or 3.06 per cent of share capital, at Rs 149 per share aggregating to Rs 4,435 crore. It also approved payment of Rs 6,556 crore as interim dividend to shareholders.
The Central Public Sector Enterprises (CPSEs) that are part of the Bharat-22 ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco.
The breadth of the market favoured the advances with 764 stocks advancing and 913 declining while 384 remained unchanged. On the BSE, 1157 stocks advanced, 1297 declined and 142 remained unchanged.
Investors will be better off not to touch high beta names until some clarity emerges with respect to General Elections 2019
The general rule is that when a stock is trading below its 5-year PE, it usually indicates sluggish movement in price, which is further linked to earnings potential
JP Morgan believes oil will remain range bound & large under recoveries are unlikely.
The issue will open early next week and investors would get 3.5-4 percent discount over the issue price, the sources said.
Brokerages have remained bearish on the stock and expect a subdued show in the second half of this fiscal.
The earnings before interest, taxes, depreciation and amortization (EBITDA) fell 46 percent to Rs 6,762 crore against Rs 12,576 crore from the previous quarter.
The buyback route is being seen as a tool to meet the year’s divestment target by the government.
Dividend-paying stocks make an ideal portfolio play especially in times of crisis. These stocks tend to absorb the volatility and remain relatively stronger in such a scenario
The central excise duty has been cut by Rs 1.5 per litre while oil marketing companies (OMCs) have been asked to absorb a cut of Rs 1 per litre which will impact margins as well as earnings of HPCL, BPCL, and IOC.
CLSA sees Vedanta, GAIL and ONGC being good buy options based on factors such as favourable risk reward and lack of subsidy burden, among others.
The government raised basic customs duties across air conditioners, refrigerators, washing machines (
Although there has been a substantial correction in stock prices, we approach the current year with caution given the increasing global uncertainty, rising crude oil prices, growing agitation against higher petrol and diesel prices in domestic markets and government’s unwillingness to reduce taxes on fuel
IOC wants to continue buying oil from Iran due to better terms and is also interested in getting into a long term deal to buy U.S. oil, Singh said.
The firm, which owns a third of India's oil refining capacity and has 44 percent market share of fuel business, sees compressed natural gas (CNG).
The country's largest fuel retailer had posted net profit of Rs 4,719.71 crore in the same quarter of last fiscal.