www.rupeedesk.in
Stocks of oil marketing companies -- Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd,
and Hindustan Petroleum Corp Ltd -- are seen trading in line with broad market which is
seen volatile next week on account of expiry of February futures and options contracts.
There is no trigger for these stocks in near term apart from monthly diesel price hike due
on Friday or Saturday.
Most market participants have built in expectations of at least one more 50 paise a litre
hike before government goes in to election mode and puts a stop to move for a few
months. Also, rupee has stabilised around the 62-for-a-dollar mark and is expected to
remain there in near term. Indian basket of crude oil too is trading in a range for past few
weeks.
The two factors will continue to dictate trend for oil marketing companies but mostly
stocks will be in a range, though trading could be volatile on Wednesday, day of futures
expiry. For Reliance Industries Ltd, operational outlook has improved with strengthening
of refining margins and petrochemicals margins in recent past.
Stocks of oil marketing companies -- Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd,
and Hindustan Petroleum Corp Ltd -- are seen trading in line with broad market which is
seen volatile next week on account of expiry of February futures and options contracts.
There is no trigger for these stocks in near term apart from monthly diesel price hike due
on Friday or Saturday.
Most market participants have built in expectations of at least one more 50 paise a litre
hike before government goes in to election mode and puts a stop to move for a few
months. Also, rupee has stabilised around the 62-for-a-dollar mark and is expected to
remain there in near term. Indian basket of crude oil too is trading in a range for past few
weeks.
The two factors will continue to dictate trend for oil marketing companies but mostly
stocks will be in a range, though trading could be volatile on Wednesday, day of futures
expiry. For Reliance Industries Ltd, operational outlook has improved with strengthening
of refining margins and petrochemicals margins in recent past.
