Buy Reliance Industries Ltd For Target Rs.1,517.00 - Emkay

Broadly in-line; Maintain Buy

* Results beat marginally our estimates with EBITDA at Rs113bn (against our estimates of Rs111bn) due to higher than expected GRM. Also PAT came in at Rs81.5bn vs our estimate of Rs79.5bn. Due to forex gain interest expenses came down qoq. While tax out go was lower due to benefit of IndAS implementation which is expected

29/04/2017 10:59:51 AM | Posted in Broking Firm Views - Long Term Report read full news
Buy Gujarat Gas Company Ltd For Target Rs.735.00 - Motilal Oswal

Abundant opportunity in long term, but short-medium term concerns to

* The long-term opportunity for GUJGA is sizable, given just 18% penetration in the
PNG-domestic segment and 30% penetration in the CNG segment, coupled with
possible regulatory push.
* Combined pre-merger peak sales were 8-9mmscmd. Morbi, the largest

28/04/2017 4:17:14 PM | Posted in Broking Firm Views - Long Term Report read full news
Saudi minister: Important to try to agree on oil cuts deal extension

ASTANA  - Saudi Energy Minister Khalid al-Falih said on Friday that it was important to try and agree on an extension of a global oil cuts deal into the second half of the year.

The Organization of the Petroleum Exporting Countries, along with Russia and other non-OPEC producers, pledged to cut output by 1.8 million barrels per day (bpd) in the first half of 2017

Oil rises on potential OPEC cut extension, but still faces second weekly loss

SINGAPORE - Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market.

U.S. West Texas Intermediate (WTI) crude was at $49.43 per barrel at 0649 GMT, up 46 cents, or 0.94 percent, from their last close. However, WTI is still set for a small

OPEC Sec-Gen says need to see oil stocks fall closer to 5-year average

PARIS  - OPEC Secretary General Mohammad Barkindo said on Thursday that global oil inventory overhang was declining but oil stocks still need to fall closer to the five-year industry average.

The Organization of the Petroleum Exporting Countries and non-OPEC meet on May 25 to discuss extending the curbs that total 1.8 million barrels daily, two-thirds of that fro

OPEC output cuts whet Asia's appetite for North Sea oil

LONDON/SINGAPORE  - OPEC production cuts have created record Asian demand for European oil and made China the second biggest consumer of North Sea crude as flows from its usual Middle East suppliers dip.

Rising Asian appetite for North Sea crude has largely been fuelled by the falling premium charged for North Sea crude over rival Middle East oil and this demand

Buy Reliance Industries Ltd For Target Rs.1,550 - Sharekhan

Key points

* Higher than expected GRM leads to beat in operating profit: Reliance Industries (RIL) reported better-than-expected Q4FY2017 operating profit of Rs11,280 crore compared to our estimate of Rs10,711 crore, primarily on the account of a strong beat in GRM at $11.5/bbl (vs our expectation of $10.5/bbl) while the Petrochemicals EBIT margin at

27/04/2017 3:41:05 PM | Posted in Broking Firm Views - Long Term Report read full news
Petron Engineering hits roof bagging new order

Shares of Petron Engineering Construction zoomed 20 per cent and locked in upper circuit on the Bombay Stock Exchange after the company said that it has received work order worth Rs 110.00 crores from Guruashish Construction Pvt. Ltd., HDIL Towers, Bandra (East), Mumbai, for building structure works at Goregaon (West), Mumbai.

Driven by new work order, shares of company gained as much

Oil prices fall on lingering oversupply concerns

SINGAPORE  - Oil prices dipped on Thursday, weighed down by a general sentiment of globally bloated markets, though traders said that prices seemed to have found support around current levels.

U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.37 per barrel at 0644 GMT, down 25 cents, or 0.5 percent from their last close. WTI has lost around

27/04/2017 10:10:08 AM | Posted in Commodity Top News read full news
RIL partners with Resysta to bring wood alternative in India

Reliance Industries Ltd (RIL) on Wednesday said it has entered into a licence agreement with Germany based Resysta International GmbH, which gives RIL the exclusive rights of production and marketing of a natural fibre polymer composite (NFPC) in India.

"Through this strategic partnership with Resysta, RIL is looking forward to produce the RelWood compound exclusively in order to

Oil falls on ballooning US crude inventories

Crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the energy commodity as API report showed that US crude inventories grew by 8,97,000 barrels in the week to April 21 to 532.5 million barrels.

Besides, record supplies in the rest of the world, lost traders’ confidence that pledge

Oil breaks losing streak ahead of U.S. inventory data

NEW YORK  - Oil prices edged up in volatile trading on Tuesday, rebounding from six days of losses, ahead of U.S. crude inventory data forecast to show a drawdown.

U.S. crude futures settled up 33 cents to $49.56 a barrel, breaking a streak that saw the benchmark lose 7.4 percent. Brent crude settled up 50 cents at $52.10 a barrel.

Analysts forecast U.S

Oil falls on bulging U.S. crude inventories, ample global supplies

SINGAPORE - Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.

U.S. West Texas Intermediate (WTI) crude oil futures were trading down 13 cents, or 0.3 percent, at $49.43 per barrel at 0416 GMT, after ga

Russia may raise oil output if sees no risks of price fall - Ifx

MOSCOW  - Russia is ready to keep its oil production stable, but may increase output if it feels that prices are unlikely to fall as a result, the Interfax news agency quoted Deputy Prime Minister Arkady Dvorkovich as saying on Tuesday.

Dvorkovich said a fragile balance has been reached in the global oil market, which should not be disturbed by any "sharp mo

Neutral On Indraprastha Gas Ltd For Target Rs.1,023.00 - Motilal Oswal

Moving in the right direction, but fairly valued

We recently met management of Indraprastha Gas (IGL). Key takeaways:

CNG segment to see 8-10% growth

* At peak, Delhi Transport Corporation (DTC) had a fleet of 5,500 buses. However, due to the phasing out of older buses and the inability to add newer

25/04/2017 4:06:29 PM | Posted in Broking Firm Views - Long Term Report read full news
Crude oil futures in reverse gear

Crude oil futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the energy commodity as traders lose confidence that pledged output cuts by major oil producers will rein in oversupply.

Moreover, Russia hinted that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producer

RIL's Q4 consolidated net up 12.3%, annual profit rises 18.8%

 Industrialist Mukesh Ambani-led Reliance Industries Limited's (RIL) consolidated net profit for the fourth quarter (January-March) of 2016-17 moved up by 12.3 per cent, a company statement said here on Monday.

The company posted net profit of Rs 8,046 crore for the fourth quarter of 2016-17 compared to Rs 7,167 crore clocked during the corresponding period in 2015-16.

RIL overtakes TCS as most valuable company

Industrialist Mukesh Ambani-led Reliance Industries (RIL) on Monday regained its position as the most valued company of the country in terms of market capitalisation (m-cap).

The company's shares on the BSE closed higher by 1.19 per cent or Rs 16.65 to Rs 1,416.40 from its previous close at Rs 1,399.75. This lifted RIL's m-cap to Rs 4,60,518.80 crore.

The c

Reliance lifts Jio investment above $30 billion after record year

MUMBAI - Reliance Industries plans to spend a further $2.8 billion on its Jio telecoms business in the current quarter, it said on Monday, taking its investment in the venture to more than $30 billion.

Reliance derives the bulk of its revenue from its core refining and petrochemicals operations, but the group has bet big on Reliance Jio Infocomm. The project backed by

India's H-Energy leases LNG import terminal, agrees supply

LONDON - Indian gas company H-Energy is to begin importing liquefied natural gas (LNG) from the third quarter of 2018 via a ship-based terminal leased from French group Engie, its chief executive told Reuters on Monday.

India is the world's fourth biggest LNG importer even though gas accounts for just seven percent of its coal-dominated energy mix, but consumption

Oil edges up, breaking six-day stretch of losses

LONDON - Oil prices nudged higher on Tuesday, breaking a six-day streak of price falls, but doubts about OPEC's ability to reduce global crude inventories capped gains.

Brent crude was up 8 cents at $51.68 a barrel by 1145 GMT, while U.S. crude futures were up 4 cents at $49.27 a barrel.

Brent is down 10 percent since late 2016, despite efforts led by th

India aims to cut petroleum imports as it boosts alternative fuel use

SINGAPORE  - India is aiming to cut its oil products imports to zero as it turns to alternative fuels such as methanol in its transport sector, a government official said at an investor briefing on Monday.

"We are trying our level best that the day will come when we don't need to import any fuel from any country and that we will be self-sufficient,"

Crude oil surges on production cut hopes from OPEC

Crude oil futures were trading higher during noon trade in the domestic market on Monday as investors and speculators build up fresh bets in the energy commodity on hopes that OPEC will extend a pledge to slash output to cover all of 2017 to restore balance to a market dogged by oversupply.

However, US drillers added oil rigs for the 14th week in a row, to 688 rigs, extending an 11-mo

India's March oil, gas output rise

NEW DELHI  - India's crude oil production in March inched up 0.94 percent to 3.1 million tonnes from a year ago, while natural gas output rose 8.92 percent to 2.75 billion cubic metres, provisional government data released on Monday showed.

Refinery production slipped 0.33 percent to 21.3 million tonnes.

(Reporting by Nidhi Verma; Editing by Malini

RIL spurts 1.5% ahead of Q4

Shares of Reliance Industries rose over 1 per cent in early trade on the Bombay Stock Exchange ahead of the fourth quarter earnings report to be announced later in the day. According to Economic Times, the country’s largest private sector enterprise is likely to report over 5 per cent year-on-year growth in net profit for the quarter ended March 31, 2017.

Ahead of Q4, shares of