The refining segment for RIL contributes more than two-thirds of its revenue and operating profit. Hence, any change in the refining margins translate into change in profits.
The transition will have a considerable impact on the computation of revenue, operating profit, net profit, and networth of the listed companies.
Kerosene and LPG are sold well below their cost of production. Currently, under-recoveries on kerosene and LPG are Rs 13.1 a litre and Rs 116 per cylinder, respectively.
The percentage of index constituents of the Nifty trading higher than the 200-DMA is among the highest in the top 20 equity markets by market capitalisation.
The company could see robust revenues and margins if its bet on capacity expansion to manufacture alloy wheels pays off.
Analysts believe that earnings per share of ONGC and Oil India may see an upgrade of 1-1.5% for FY17 and FY18, respectively, if there is no more hike.
Traders recommend buying 8,300 July call options and selling 8,500 July call option for the ‘bull call spread’ strategy.
India’s second largest oil marketing company has improved the core return on equity (RoE), which excludes the impact of under recoveries on petroleum products.
Open interests on June and July futures contracts increased 11 per cent and 8 per cent, respectively, according to data compiled from NSE.
Since 2001, a movement of less than 5 Rs in a calendar month has been found only in 15 instances, suggesting a very lower probability of its occurring.
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