Diesel cars typically fetch about Rs 1-1.5 lakh premium over petrol variants and enjoy higher margins. The ban will reduce automakers’ margins.
The order comes after the Delhi government decided to restrict private cars in the city through an odd-even formula to contain pollution.
India’s earnings downgrade cycle may be nearing its end as the low base effect kicks in from the Q3 and the commodity plunge cools off after a turbulent year.
The refinery segment contributed 62% to RIL’s operating profit and 70% to revenues for the quarter ended September.
Aberdeen’s fund holds 5.9% in Hero MotoCorp, 4.77% in Kansai Nerolac, 4.91% in Ramco Cements, 5.24% in Grasim, 1.31% in HDFC, 1.29% in Castrol India, 1.92% in Bosch and 3.52% in Container Corporation of India.
Of the 3 factors — consumption, investment and govt spending that boost growth — consumption is showing signs of revival.
Stocks of refineries including Chennai Petroleum, MRPL, Reliance Industries and Essar Oil have gained in double digits since January 2015 .
Bain Capital is selling its remaining stake at 1.7 per cent to 2.85 per cent discount within a price band of Rs 2,570 to Rs 2,600 per share.
GAIL shot up 25 per cent making it the world’s best performing utility stock previous week since the company is expected to be a major beneficiary of such a renegotiation.
Maruti’s stock is the world’s fourth most expensive based on the next year’s projected earnings. It is available at 21.86 times of the next year forecasted earnings.
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