The Union Budget FY10-11 is expected to come on 26 Feb’10 and will be the next major trigger for the market.
Finance Minister is expected to provide guidelines for the introduction of the direct and indirect tax reforms i.e. the direct tax code (DTC) and the Goods & Services Tax (GST).
FM may increase excise duties to decrease the fiscal stimulus measures and may raise the service tax also from 10%. We...
Upstream Co: Positive
Downstream Co: Neutral
Gas Co: Positive
Q3 FY10 review: almost in line with our expectations
The Q3 FY10 results were broadly in line with our expectations. The upstream companies posted good profits during the quarter on account of higher average crude oil prices on YoY basis and higher GRMs. Commencement of Rajasthan field (Cairn India) and increased production in KG-D6 were the key...
Currently, I am positive on Oil and Gas sector. Keeping in mind the common man’ interest, we anticipate the partial implementation of Mr. Kirit Parikh ’s recommendations, which could lead to a re-rating of the entire sector. We expect a midway approach to these recommendations would improve the earnings visibility of OMCs and could lead the OMCs P/E to 17-19x from current 13.25x.
Considering the growing...
The dollar index has been rising from the last one month and seems to be heading higher. The stock market is inversely correlated to the dollar index. If dollar index starts falling from here, then we can see a good really in the stock market.
Bharat Forge, a steel forging and general engineering company, posted good results in Q3 FY10. The net sales rose 14% and the net profit was up at Rs.38 cr. as against Rs.4.3...
ACC Limited is India ’s leading manufacturer of cement, mainly into Bulk Cement and Ready Mix Concrete. In CY09, the company?s improved operational efficiency helped to gain a decent performance, despite lower volumes and reported 33% jump in its net profit. The net sales were up by 10% and OPM improved by 230 bps to 23.6%.
Currently, the total capacity of the company stands to 26 MMTPA. Bargarh expansion...