Stocks In Action For 7th September 2012
DSIJ Intelligence / 07 Sep 2012
Oil Marketing Companies have seen a rise of more than 1 per cent yesterday and the day before on the back of increased speculation of a fuel price hike. With under recoveries touching all time highs because of the increased global crude prices and no action of fuel prices domestically, the hike is expected to come off in today’s meeting. With this, share prices of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) are expected to maintain the upward trend pre fuel price decision and the directional trend to be decided depending on what decision is taken with fuel prices post that.
The highly fuel price sensitive auto industry will also take shape based on the decision on fuel prices. If there is a hike in prices, expect auto stocks across the platter to plummet. Most of the auto stocks saw a downfall yesterday due to increased likelihood of a price hike. With this, volatility is expected to remain today as well.
According to media reports, RIL has become a member of the Dubai Mercantile Exchange (DME) allowing it to participate directly in the global oil futures market. With this, the scrip is expected to see volatility in today’s trading. The stock may see an upward move.
Mahindra and Mahindra announced plans to enter the Russian market and launch vehicles over the next two years. M&M also announced their plans to launch a mini SUV for the Indian markets on 20 September 2012. This is expected to cause an upward move in M&M’s stock prices today.
ITC yesterday fell more than 2 per cent on speculation over anti smoking legislations. The cigarette major later told Reuters that they would venture into dairy products, drinks and perhaps even breakfast foods with the tobacco business getting squeezed because of stricter regulations. This wouldn’t change the situation much for ITC in today’s trading considering the fact that tobacco products form most of the company’s revenues. The downfall in the scrip is expected to continue today as well.
The highly fuel price sensitive auto industry will also take shape based on the decision on fuel prices. If there is a hike in prices, expect auto stocks across the platter to plummet. Most of the auto stocks saw a downfall yesterday due to increased likelihood of a price hike. With this, volatility is expected to remain today as well.
According to media reports, RIL has become a member of the Dubai Mercantile Exchange (DME) allowing it to participate directly in the global oil futures market. With this, the scrip is expected to see volatility in today’s trading. The stock may see an upward move.
Mahindra and Mahindra announced plans to enter the Russian market and launch vehicles over the next two years. M&M also announced their plans to launch a mini SUV for the Indian markets on 20 September 2012. This is expected to cause an upward move in M&M’s stock prices today.
ITC yesterday fell more than 2 per cent on speculation over anti smoking legislations. The cigarette major later told Reuters that they would venture into dairy products, drinks and perhaps even breakfast foods with the tobacco business getting squeezed because of stricter regulations. This wouldn’t change the situation much for ITC in today’s trading considering the fact that tobacco products form most of the company’s revenues. The downfall in the scrip is expected to continue today as well.
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