The Indian refiner sold 35,000 tonnes of naphtha for Nov 10-12 loading from New Mangalore late on Wednesday to oil major BP at premiums of about $6 to $7 a tonne to Middle East quotes on a free-on-board (FOB) basis.
India's loadings from Iran for this month and next will drop to less than 12 million barrels each, after purchases over April-August had been boosted in anticipation of the reductions.
"M Venkatesh is a chemical engineer having over three decades of experience in oil and gas sector," Mangalore Refinery and Petrochemicals Ltd (MRPL) said in a regulatory filing.
"The Index has formed 'Bearish Belt Hold' candlestick pattern indicating downfall to continue in near term. It is heading towards 10,127 levels which is the 200 Simple Moving Average (SMA) which might work as immediate support zone," says Rajesh Agarwal of AUM Capital.
Prakash Gaba of prakashgaba.com is of the view that one can buy Tata Motors with target at Rs 410 and stop loss at Rs 392, a buy on Tech Mahindra with target at Rs 645 and stop loss at Rs 622 and a sell on Jubliant Foodworks with target at Rs 1900 and stop loss at Rs 2000.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell IRB Infra and can buy Mahindra & Mahindra.
MRPL bought a 1 million-barrel cargo for a Feb. 1-10 delivery, M. Venkatesh told Reuters.
"There is some issue with one of the heaters linked to the coker.... We hope this will be fixed in 20 days," M. Venkatesh told Reuters.
Jay Thakkar of Anand Rathi Securities recommends buying Havells India with a target of Rs 494 and Kaveri Seed Company with a target of Rs 707.
Prakash Gaba of prakashgaba.com is of the view that the next logical technical target beyond 9816 is 9916. Crucial support for the Nifty is at 9720 and the resistance is at 9916.
Prakash Gaba of prakashgaba.com is of the view that Nifty has support at 9270-9230 and resistance at 9375-9414 while Bank Nifty has support at 22400 and resistance at 22750. NIFTY (9285) Support: 9270-9230 Resistant: 9375-9414 BANK NIFTY (22605) Support: 22400 Resistance: 22750 STOCKS Bullish Plays Atul: Base Formation Target: 2500 Stop loss: 1280 Ship Corp: Base Formation Target: 84 Stop loss: 78 Bearish Plays Jindal Steel: Breakdown Target: 100 Stop loss: 109 Rel Cap: Exhaustion Target: 630 Stop loss: 660
According to Ashish Kyal of Waves Strategy Advisors, one may buy Gujarat Fluorochemicals with a target of Rs 765.
Iran, India's third biggest oil supplier, used to give a 90-day credit period to refiners like Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) to pay for the oil they would buy from it.
According to a media report, the company currently has 11.42 percent shares with the public against 25 percent that is needed to comply with SEBI norms.
Rajat Bose of rajatkbose.com recommends buying Vedanta, Asian Paints and MRPL.
Dr Reddy's Labs | IDBI Bank | Tata Steel | Cairn India | Maruti Suzuki | MRPL | Dish TV | Videocon | Welspun Enterprises | Natco Pharma | Alembic Pharma and Eros International are stocks, which are in the news today.
Gagan Dixit, Oil & Gas Analyst, Elara Capital says in case ONGC acquires stake in HPCL, then the fundamentals of the company will remain the same and will be a positive for HPCL stock
The cash outgo will go towards acquiring the government holding as well as buying an additional 26 percent stake in HPCL via an open offer.
Jaitley, in his Budget speech, had spoken of creating oil majors which would be able to match the performance of international and domestic private sector oil and gas companies.