RIL has announced its FY08 results. The company's FY08 consolidated net profit was up 62% at Rs 19523 crore versus Rs 12075 crore.
Its Q4 stanalone net profit up 24% at Rs 3912 crore versus 3156 crore.
Its standalone net sales up 36% at Rs 37,286 crore versus Rs 27,448 crore.
Its GRM at USD 15.50 per barrel versus USD 15.40 per barrel, QoQ.
Petchem Margins at 10.4% versus 11%; Refining Margins at 9.9% versus 10.8%.
Oil & Gas margins at 54% versus 55.29%.
the company's Q4 net sales were seen up 32.3% to Rs 36319 crore from Rs 27448 crore.
Its EBITDA was seen up 18.7% to Rs 6137.9 crore from Rs 5169 crore.
Its net profit was expected to go up 28.9% to Rs 4067.7 crore from Rs 3156 crore.
Monday, April 21, 2008
India-Oman trade jumps 66% to $1.5 bn
Trade between India and Oman has registered the highest growth rate of 66 per cent and amounted to $1.5 billion in 2007 from $900 million in 2006.
India-Oman economic and commercial relations have gained sufficient momentum in recent years to lend a strategic nature to the bilateral engagement, Indian Ambassador to Oman, Anil Wadhwa, yesterday said at a University's function here.
"The political relations between India and Oman are guided by mutual respect and commonality of views on major regional and international issues," he said.
Recent years have witnessed a two-way flow of significant investments in various fields, including oil and gas, heavy engineering, chemicals and pharmaceuticals, IT and infrastructure.
The ambassador mentioned that the steady growth of tourists traffic between the two countries was a result of increase in air connectivity between the two countries.
The ambassador also presented the University with 300 books on diversified subjects, such as Indian history, culture, literature and Economy.
The Embassy had earlier presented 100 books each to the Sur College of Applied Sciences and Sur University College for setting up "India Corner" in their respective libraries.
India-Oman economic and commercial relations have gained sufficient momentum in recent years to lend a strategic nature to the bilateral engagement, Indian Ambassador to Oman, Anil Wadhwa, yesterday said at a University's function here.
"The political relations between India and Oman are guided by mutual respect and commonality of views on major regional and international issues," he said.
Recent years have witnessed a two-way flow of significant investments in various fields, including oil and gas, heavy engineering, chemicals and pharmaceuticals, IT and infrastructure.
The ambassador mentioned that the steady growth of tourists traffic between the two countries was a result of increase in air connectivity between the two countries.
The ambassador also presented the University with 300 books on diversified subjects, such as Indian history, culture, literature and Economy.
The Embassy had earlier presented 100 books each to the Sur College of Applied Sciences and Sur University College for setting up "India Corner" in their respective libraries.
NOT BEAR MARKET IT IS BEAR PHASE OF LONG TERM BULL MARKET
The Nifty/Sensex monthly chart highlights the long term trendline commencing from the May 2003
days. On the Nifty, the May 2004, June 2006 and the recent January‐March falls have been supported by
this trendline signifying its importance. While on the Sensex, the May 2004, June 2006 earlier falls have
been held but the recent fall has seen the breach below this long term trendline.
The striking similarity in all three falls on both the indices is their magnitude which amounted to 30‐
32%. Assuming the recent bottom was formed on 22 January on the Nifty at 4448 level and the 14677 on
the Sensex on 18 March, the fall from the lifetime high at 21206/6357 amounts to 30%.
The recent fall has been painful in terms of price (shed 30%) as well as time as it commenced in the
month of January. The fall has affected almost all the sectoral indices, while some of the stocks from the
mid cap and small cap universe have shed 50‐70% from its peak.
On the quarterly charts, the month of March has displayed a long red candle; this has been preceded by
‘Three White Soldiers’ and can be considered as a phase of consolidation. As long as the next quarter
holds the low formed in the quarter ending March, we expect the uptrend to resume.
We expect a higher bottom/higher top to be formed by the indices and on a longer term basis, the
14500/4400 levels to serve as a bottom. Any sharp fall would only be a short term event, considering
the momentum in the daily and weekly indicators. We expect the indices to once again test the
21000/6200 levels within the next six‐eight months. This ensures that long term investors must view
the current levels and dips as buying opportunity in select frontliners and mid caps as the risk
reward is extremely favourable.
Typically, corrections beginning from the month of January terminate in the month of May creating a
long term bottom. Thus, we are likely to see another month of pain before reversal is seen. The 16700‐
18300/5000‐5300 levels will be the stiff resistances that the indices are likely to encounter incase of
reversal. Considering all the above charting developments, we conclude that:
• Despite the 6000 point crash in Sensex and the 1900 point crash in Nifty, there is no sign of a bear
market in Indian markets,
• The 4448/14677 levels are most likely to serve as a long term bottom and consolidation is likely to
continue at current levels until May.
• A higher bottom may be the first sign of reversal from the current pain.
Considering the longer term picture, the risk reward is favourable at current levels. We suggest going
long at lower supports levels of 15000‐15500/4500‐4600. We expect the indices to form a base around
May and thereon start a gradual recovery process. The slower the recovery, the more convincing it
will be in terms of stability and fewer fluctuations. Volumes and overall sectoral participation will be
the key elements to watch out for once the indices reverse trend. The 14000/4400 levels can be the
appropriate stop loss for all long term positions.
days. On the Nifty, the May 2004, June 2006 and the recent January‐March falls have been supported by
this trendline signifying its importance. While on the Sensex, the May 2004, June 2006 earlier falls have
been held but the recent fall has seen the breach below this long term trendline.
The striking similarity in all three falls on both the indices is their magnitude which amounted to 30‐
32%. Assuming the recent bottom was formed on 22 January on the Nifty at 4448 level and the 14677 on
the Sensex on 18 March, the fall from the lifetime high at 21206/6357 amounts to 30%.
The recent fall has been painful in terms of price (shed 30%) as well as time as it commenced in the
month of January. The fall has affected almost all the sectoral indices, while some of the stocks from the
mid cap and small cap universe have shed 50‐70% from its peak.
On the quarterly charts, the month of March has displayed a long red candle; this has been preceded by
‘Three White Soldiers’ and can be considered as a phase of consolidation. As long as the next quarter
holds the low formed in the quarter ending March, we expect the uptrend to resume.
We expect a higher bottom/higher top to be formed by the indices and on a longer term basis, the
14500/4400 levels to serve as a bottom. Any sharp fall would only be a short term event, considering
the momentum in the daily and weekly indicators. We expect the indices to once again test the
21000/6200 levels within the next six‐eight months. This ensures that long term investors must view
the current levels and dips as buying opportunity in select frontliners and mid caps as the risk
reward is extremely favourable.
Typically, corrections beginning from the month of January terminate in the month of May creating a
long term bottom. Thus, we are likely to see another month of pain before reversal is seen. The 16700‐
18300/5000‐5300 levels will be the stiff resistances that the indices are likely to encounter incase of
reversal. Considering all the above charting developments, we conclude that:
• Despite the 6000 point crash in Sensex and the 1900 point crash in Nifty, there is no sign of a bear
market in Indian markets,
• The 4448/14677 levels are most likely to serve as a long term bottom and consolidation is likely to
continue at current levels until May.
• A higher bottom may be the first sign of reversal from the current pain.
Considering the longer term picture, the risk reward is favourable at current levels. We suggest going
long at lower supports levels of 15000‐15500/4500‐4600. We expect the indices to form a base around
May and thereon start a gradual recovery process. The slower the recovery, the more convincing it
will be in terms of stability and fewer fluctuations. Volumes and overall sectoral participation will be
the key elements to watch out for once the indices reverse trend. The 14000/4400 levels can be the
appropriate stop loss for all long term positions.
The top 13 single-day falls of the Sensex has occurred on the following dates
1. Jan 21, 2008 --- 1,408.35 points
2. Mar 17, 2008 --- 951.03 points
3. Jan 22, 2008 --- 857 points
4. Feb 11, 2008 --- 833.98 points
5. May 18, 2006 --- 826 points
6. Mar 13, 2008 --- 770.63 points
7. Dec 17, 2007 --- 769.48 points
8. Mar 31, 2007 --- 726.85 points
9. Oct 17, 2007 --- 717.43 points
10. Jan 18, 2007 --- 687.82 points
11. Nov 21, 2007 --- 678.18 points
12. Aug 16, 2007 --- 642.70 points
13. Apr 2, 2007 --- 616.73 points
2. Mar 17, 2008 --- 951.03 points
3. Jan 22, 2008 --- 857 points
4. Feb 11, 2008 --- 833.98 points
5. May 18, 2006 --- 826 points
6. Mar 13, 2008 --- 770.63 points
7. Dec 17, 2007 --- 769.48 points
8. Mar 31, 2007 --- 726.85 points
9. Oct 17, 2007 --- 717.43 points
10. Jan 18, 2007 --- 687.82 points
11. Nov 21, 2007 --- 678.18 points
12. Aug 16, 2007 --- 642.70 points
13. Apr 2, 2007 --- 616.73 points
Citigroup Digs Deep, Google Rides High
NEWS AT A GLANCE
Citigroup loses $5.11 billion
Citigroup, the largest U.S. bank, posted a $5.11 billion quarterly loss, its second in a row, after writing down at least $15 billion in assets tied to mortgages and leveraged loans. Revenue fell 48 percent. (MarketWatch) The results were worse than analysts expected, but Citigroup shares rose in early trading. (Reuters) CEO Vikram Pandit, nearing the end of a comprehensive companywide review, has replaced his chief risk officer, cut 6,000 jobs, and replenished capital reserves to return the bank to fiscal health. "It was a difficult quarter," said Peter Kovalski at Alpine Woods Investments, but "Pandit is doing what needs to be done," given the tough market.
Google beats expectations
Google reported a 30 percent rise in quarterly profits, to $1.31 billion, easily topping analysts' forecasts. Google said it didn't see any impact yet from the U.S. economic slowdown, but much of its growth came from a strong push into international markets. For the first time, more than half of Google's revenue came from outside the U.S. Google's stock, down sharply this year, shot up 18 percent in extended trading, to $529.38 a share. "It's a good time to be a Google bull," said analyst Colin Gillis at Canaccord Adams. "The boys delivered." If Yahoo! similary beats expectations next week, analysts say, it could help it demand a higher bid from Microsoft.
RBS exploring stock sale
Royal Bank of Scotland, the U.K.'s No. 2 lender, said it is considering selling shares to raise capital, reversing earlier assertions that it didn't need fresh capital. RBS's reserves have been depleted by more than $5 billion in writedowns and its part in the $114.5 billion acquisition of Dutch bank ABN Amro. (Bloomberg) The details of the rights offer are expected next week. Analysts said RBS could bring in as much as $18 billion. "After all the denials by RBS that there was a need for any capital raising initiatives, it's unlikely that the market will take this as a positive," said Martin Slaney at GFT. (Reuters)
Iceland's credit freeze
Iceland is a country of extremes, and it is now on the verge of swinging from a period of remarkably robust growth to its first recession since 1992. The trouble started in Iceland's banking sector, which holds assets worth more than 10 times the country's GDP. Questions about their liquidity started hitting the banks early this year, even though they never bought the risky U.S. mortgage-back securities that got other countries in trouble. Icelanders and outside investors agree that things are getting bad, but disagree on why, with the foreigners arguing that Iceland is due for a steep correction and locals alleging market manipulation by speculators.
Fighting food inflation
U.S. shopper are facing the "worst food-price inflation in more than a decade," says Jeffrey Strain in TheStreet.com. Other household costs are rising too, but the grocery bill at least has "some wiggle room," if you know how to "exploit some areas within the system." Some examples: Make a database of good prices, so you'll know a good sale and can stock up. Buy in bulk, as long as you use all of the item, but not at a faster-than-normal rate. Buy only what you need, so no soda or desserts, say. Go ahead and "play the coupons game" -- you can save hundreds -- and only buy the sale items. And this "may seem obvious," but "don't throw food away."
Fighting starvation
"Tossed food" is the "third most common refuse found at landfills" in the U.S., says Thomas Kostigen in MarketWatch. And that is especially shameful when an unprecedented "food crisis" has left "millions of people living on the brink of starvation." While U.S. shoppers face higher prices with "little more than a grimace and a shrug," other countries have met the three-year doubling of food prices with "violent protests." The $200 million in emergency food aid released by President Bush is an "admirable" start, but it is "a Band-Aid." We need to commit more food aid. The U.S. is the most overweight country in the world, and "we need to stop eating and start feeding."
GOOD DAY FOR: Korean BBQ, after South Korea agreed to ease its mad-cow-driven embargo of U.S. beef. Korea imported $815 million worth of U.S. beef in 2003, before imports were stopped, putting it only behind Japan and Mexico. Some imports resumed in 2006. The easing could help passage of the $29 billion free-trade pact between Korea and the U.S. (Bloomberg)
BAD DAY FOR: Green living, as rising food prices are making organic-minded shoppers rethink their commitment to already-higher-priced natural foods. The organics market has grown 126 percent in five years, to $16.7 billion. But "man, $6.99 for a gallon of milk is pushing it," said Perry Abbenante at Whole Foods. "We have to be very careful about not pricing organics out of the market."
NOTED: Nalgene, the maker of hard polycarbonate water bottles, said it will stop using that plastic due to customer concerns over the chemical bisphenol-A, or BPA. The Canadian government is reportedly moving to label BPA as a toxic chemical, and Wal-Mart Canada is pulling items with BPA, like baby bottles and toddler sip cups, from its shelves this week. U.S. Wal-Mart stores will replace bottles containing BPA by next year.
Citigroup loses $5.11 billion
Citigroup, the largest U.S. bank, posted a $5.11 billion quarterly loss, its second in a row, after writing down at least $15 billion in assets tied to mortgages and leveraged loans. Revenue fell 48 percent. (MarketWatch) The results were worse than analysts expected, but Citigroup shares rose in early trading. (Reuters) CEO Vikram Pandit, nearing the end of a comprehensive companywide review, has replaced his chief risk officer, cut 6,000 jobs, and replenished capital reserves to return the bank to fiscal health. "It was a difficult quarter," said Peter Kovalski at Alpine Woods Investments, but "Pandit is doing what needs to be done," given the tough market.
Google beats expectations
Google reported a 30 percent rise in quarterly profits, to $1.31 billion, easily topping analysts' forecasts. Google said it didn't see any impact yet from the U.S. economic slowdown, but much of its growth came from a strong push into international markets. For the first time, more than half of Google's revenue came from outside the U.S. Google's stock, down sharply this year, shot up 18 percent in extended trading, to $529.38 a share. "It's a good time to be a Google bull," said analyst Colin Gillis at Canaccord Adams. "The boys delivered." If Yahoo! similary beats expectations next week, analysts say, it could help it demand a higher bid from Microsoft.
RBS exploring stock sale
Royal Bank of Scotland, the U.K.'s No. 2 lender, said it is considering selling shares to raise capital, reversing earlier assertions that it didn't need fresh capital. RBS's reserves have been depleted by more than $5 billion in writedowns and its part in the $114.5 billion acquisition of Dutch bank ABN Amro. (Bloomberg) The details of the rights offer are expected next week. Analysts said RBS could bring in as much as $18 billion. "After all the denials by RBS that there was a need for any capital raising initiatives, it's unlikely that the market will take this as a positive," said Martin Slaney at GFT. (Reuters)
Iceland's credit freeze
Iceland is a country of extremes, and it is now on the verge of swinging from a period of remarkably robust growth to its first recession since 1992. The trouble started in Iceland's banking sector, which holds assets worth more than 10 times the country's GDP. Questions about their liquidity started hitting the banks early this year, even though they never bought the risky U.S. mortgage-back securities that got other countries in trouble. Icelanders and outside investors agree that things are getting bad, but disagree on why, with the foreigners arguing that Iceland is due for a steep correction and locals alleging market manipulation by speculators.
Fighting food inflation
U.S. shopper are facing the "worst food-price inflation in more than a decade," says Jeffrey Strain in TheStreet.com. Other household costs are rising too, but the grocery bill at least has "some wiggle room," if you know how to "exploit some areas within the system." Some examples: Make a database of good prices, so you'll know a good sale and can stock up. Buy in bulk, as long as you use all of the item, but not at a faster-than-normal rate. Buy only what you need, so no soda or desserts, say. Go ahead and "play the coupons game" -- you can save hundreds -- and only buy the sale items. And this "may seem obvious," but "don't throw food away."
Fighting starvation
"Tossed food" is the "third most common refuse found at landfills" in the U.S., says Thomas Kostigen in MarketWatch. And that is especially shameful when an unprecedented "food crisis" has left "millions of people living on the brink of starvation." While U.S. shoppers face higher prices with "little more than a grimace and a shrug," other countries have met the three-year doubling of food prices with "violent protests." The $200 million in emergency food aid released by President Bush is an "admirable" start, but it is "a Band-Aid." We need to commit more food aid. The U.S. is the most overweight country in the world, and "we need to stop eating and start feeding."
GOOD DAY FOR: Korean BBQ, after South Korea agreed to ease its mad-cow-driven embargo of U.S. beef. Korea imported $815 million worth of U.S. beef in 2003, before imports were stopped, putting it only behind Japan and Mexico. Some imports resumed in 2006. The easing could help passage of the $29 billion free-trade pact between Korea and the U.S. (Bloomberg)
BAD DAY FOR: Green living, as rising food prices are making organic-minded shoppers rethink their commitment to already-higher-priced natural foods. The organics market has grown 126 percent in five years, to $16.7 billion. But "man, $6.99 for a gallon of milk is pushing it," said Perry Abbenante at Whole Foods. "We have to be very careful about not pricing organics out of the market."
NOTED: Nalgene, the maker of hard polycarbonate water bottles, said it will stop using that plastic due to customer concerns over the chemical bisphenol-A, or BPA. The Canadian government is reportedly moving to label BPA as a toxic chemical, and Wal-Mart Canada is pulling items with BPA, like baby bottles and toddler sip cups, from its shelves this week. U.S. Wal-Mart stores will replace bottles containing BPA by next year.
MARKET PREDICTION
AFTER DISCOUNTING THE NEWS OF CITI BANK & MERILL LYNCH LOSS GLOBAL CUE IS EXTREMLY POSITIVE,INDIA WILL FOLLOW THE STEP.TOTAL MARKET OI INCREASED TO 67 K CR FROM 62 K CR (APROX).PUT CALL RATIO IS 1.22%.
LEVEL OF NIFTY WOULD BE 4820-4910-5000-5050.
CRR HIKE WOULD BE NEGATIVE FOR THE BANKING SECTOR BECAUSE OF RS 18000 ODD SOME CR WILL BE SUCKS FROM MARKET TO CONTROL INFLATION.
BUY FROM LOWER SUPPORT 4910 WITH SL OF 4880 IN ENEYGY AND OIL&GAS.
HAVE A NICE TRADING DAY
-MR. SAM
LEVEL OF NIFTY WOULD BE 4820-4910-5000-5050.
CRR HIKE WOULD BE NEGATIVE FOR THE BANKING SECTOR BECAUSE OF RS 18000 ODD SOME CR WILL BE SUCKS FROM MARKET TO CONTROL INFLATION.
BUY FROM LOWER SUPPORT 4910 WITH SL OF 4880 IN ENEYGY AND OIL&GAS.
HAVE A NICE TRADING DAY
-MR. SAM
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