This is likely to weigh on valuation of Ashok Leyland which is already witnessing moderation due to softening demand of MHCV in the past three months.
The crude oil production-to-sales ratio improved to 93% in the June quarter from the historical average of 87% between FY14 and FY16.
RIL shareholders' wealth gained Rs 20,000 crore as the markets gradually factored in the contribution of telecom venture towards the company's valuation.
Paradip refinery is expected to touch 90% utilisation in the last quarter of the current fiscal and may contribute nearly 20% to the company's profit in FY19.
The stocks of Power Grid and NTPC have a beta of less than 0.8 reflecting lesser variability in return compared with the benchmark index.
The immediate earnings of Power Grid hinge on the degree of capitalisation. But, long-term earnings growth depends on the capex incurred.
The volume growth of MHCVs contracted to 5 per cent in the two months to July after growing by 20-30 per cent in the past two fiscals
The average stock return of these five companies has been almost seven times higher than the BSE Small Cap index over the past two years.
Prominent markets such as the USA, the UK, South Korea, Canada, India and Indonesia are trading close to their record highs.
The valuation of TVS Motors seems to be pricing in the success of Victor and its guidance of 10% operating margin for FY18 , looks too optimistic.
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