RPL News, Corporate Headlines from ET, MC

Moneycontrol.Com

Reliance Petroleum has target of Rs 325-...
Chevron eyes 24% stake in RPL
How does RPL compare to its global peers?
RNRL can test Rs 150: Gaba

RPL or Chevron: Which one's at a
How does RPL compare to its global peers?
2007-11-02 14:23:20 Source : moneycontrol.com
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Chevron has said it is evaluating buying stake in Reliance Petroleum, reports CNBC-TV18. It has time till July 2009 to decide and has an option to buy up to 24% in the company.

So, how does RPL compare to its global peers?

Analysts feel that a lot of that is priced into RPL’s price. The stock has seen a steep movement. In fact, the market capitalization of RPL as of now is over USD 30 billion. This, they added, gives you an indication about the valuations it is getting, ahead of the commencement of its operations, which is expected by July next year.

Most analysts are looking at a gross refining margins, or GRM, of USD 15-18 in the first three years of operations. Now, with crude hovering over USD 95, analysts feel that GRMs are expected to be sustained for at least 10-years instead of 3-years. This means that analysts are discounting the cyclical factor of crude prices.

Analysts feel that one should look at RPL’s earnings and sales as a normal company. So for FY10, they are expecting revenue growth at nearly USD 14.2 billion and profitability of USD 2.25 billion. For a company that will come out with such sustained profitability of USD 2.25 billion, given the constant GRMs of USD 15-18 for the next few years, the market is definitely pricing in a higher PE for RPL.

According to analysts, Infosys is being given a PE of 20-25 times FY10. So, why should RPL which is coming out with similar profits not be given the same kind of PE, they question. But that is on the extreme side. Currently, RPL’s PE is hovering around 16 times FY10, which is much higher than global peers.

In fact, Chevron PE is around 9 to 10 times forward PE while Reliance Petroleum is trading at a premium to that, analysts said. However, Chevron has a market capitalization of USD 190 billion and has a refining capacity of nearly 132 million tonne. In that sense, RPL is trading at a premium to its global peers and a lot of this is being going to be discounted when the refinery comes on stream next year.

Reliance Petroleum has target of Rs 325-330: Bose
2007-11-02 11:08:19 Source : moneycontrol.com
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Technical Analyst, Rajat K Bose is of the view that Reliance Petroleum has target of Rs 325-330.
Bose told CNBC-TV18, "Beyond Rs 291 is difficult to project because the run up in Reliance Petroleum has been pretty sharp. The target would be Rs 325 to 330 in the short-term. But after yesterday’s fall, such huge volumes I have never seen in any stock with that kind of a market capitalisation. So still it is moving up. It shows that it has got enough of momentum to cross the Rs 291 mark and move forward further. But we need to very closely watch the Rs 291-294 range. In RPL, RNRL bull rally continues, even in such a situation it is pretty encouraging for traders, especially day traders can make lot of money in such counters."
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Chevron has said that it is evaluating RPL stake option, adding that it has time till July 2009 to decide, reports CNBC-TV18. It has option to buy up to 24% in RPL, it informed.
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SBI has target of Rs 2400
Dhawan bullish on bank space
RPL can cross Rs 300
Above Rs 140-145, Triveni Engg can go upto Rs
MF AUM up 16.7% at 5 lakh cr in Oct: AMFI
Long run mkt fundamentals very strong: ICICI Pru


Second innings for Birla's fin services biz
What to expect from Nifty cos this year?
Fed open to further rate cuts if needed: Peter Hooper
Google launches OpenSocial to spread social applications
Airtel introduces the ‘Super Lifetime Prepaid’

Buy 3i Infotech; target of Rs 190: PINC
Rediff.Com reports results for Q2 ended September 30,07
Financial Technologies Group partners with OMX

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The Economic Times.


Reliance Energy arm set to win transmission bid

IDFC Pvt Equity invests Rs 35 cr in Doshion
Apar to sell polymers unit for Rs 1.11 billion
Strong close to week start: Sensex gains 250 pts
Circuit Systems lists at Rs 42 on BSE
MMTC sees strong run-up in 3 months


Glodyne acquires US co for $3.34 mn in cash
Microsoft launches Silverlight 1.0 in India
HCL Technologies ties up with UK's Misys
UN ties up with Google, Cisco to fight poverty


Sale of single-premium policies takes a hit
RBI loan rules turn good assets into bad

Religare Platter: M&M, BoB, Jagran Prakashan, Idea



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MyIris.Com, Rediff Updates

Myiris.Com

NAVs of equity funds advance 10.55% in Oct. `07
Circuit Systems closes with 24.28% premium
Advanta India`s arm buys stake in LongReach
Fiscal deficit declines at 53.8%
L&T enters in JV with US Co

Mundra Port IPO oversubscribed 5.57 times on day two
World Bank approves 3 loans in India
World Bank to grant loans to Maharashtra
Bilcare net up 38.24% for Sep`07 qtr
Active stock: Apar Industries climbs 5%

Inflation declines to 3.02%
Lanco Industries net up 2.4% in Q2
Emami net up 22% for Sep`07 qtr
Power Grid to set up office in Dubai

Barak Valley IPO oversubscribed 29.15 times on closing

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Rediff.Com

Which MFs can get you maximum profits
Best IPOs
Top 25 MFs
Mutual funds for long-term investors - V



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Sensex up by 252 pts at close

NIFTY 5932.40 65.95
SENSEX 19976.23 251.88

The bulls, after staying away from the ring for a better part of the session, staged a dramatic comeback and lifted the market high up into the positive territory in late afternoon trade today.
The negative close on Wall Street and weak Asian markets due to fresh concerns over subprime lending in US did cast a shadow on the Indian bourses when trade commenced this morning.

Though a few frontline stocks, led by State Bank of India, ONGC and Infosys Technologies, managed to find support and posted smart gains in early afternoon trade, it was only during the fag end of the session the bulls decided to swing back into action with great vigor.

The Sensex, which was down with a massive loss of nearly 470 points at 19,255.77 at one stage this morning, vaulted to a high of 20,025.63 in late afternoon trade and ended with a sparkling gain of 251.88 points or 1.28% at 19,976.23. The Nifty, which had tanked to a low of 5714.25, zoomed 1.12% or 65.95 points over its previous closing mark to 5932.40.

State Bank of India (up 8.75% to Rs 2251.75) turned in a sparkling performance and played a stellar role in lifting the sentiment today. Other heavyweights from the banking sector, HDFC Bank (up nearly 5%) and ICICI Bank (2.45%) also finished on a high note.

Reliance Energy (4.8%), ONGC (2.7%), Grasim Industries (2.2%), ITC (2.05%), Infosys Technologies (2.05%) and BHEL (2.05%) posted strong gains. Maruti Suzuki, which remained quite listless today, ended with a sharp gain of 1.8%.

Index heavyweight Reliance Industries bounced back into the positive territory a little past mid afternoon and closed with a handsome gain of 1.55% at Rs 2712.70. Tata Motors (1.5%), NTPC (1.2%) and Tata Steel (1%) also closed with notable gains.

Larsen & Toubro, one of the stocks to buck the weak trend this morning, lost its way midway through the session but recovered well during the final hour of trade to close stronger by 0.8%. Hindustan Unilever, Ambuja Cements, Ranbaxy Laboratories and Dr. Reddy's Laboratories posted modest gains. Bajaj Auto and Tata Consultancy Services ended almost unchanged from their previous closing levels.

Bharti Airtel had another weak outing on concerns over the ACC, Satyam Computer Services, HDFC, Wipro, Cipla and Mahindra & Mahindra eased by 1% - 2%. Despite enjoying a bright spell in the positive territory, Reliance Communications ended in the negative territory with a loss of 0.6%. Hindalco closed with a marginal loss.

Reliance Petroleum, Siemens, Hindustan Petroleum Corporation, Unitech, Punjab National Bank, SAIL and ABB finished with smart gains.
GAIL India, HCL Technologies, Nalco, Hero Honda, GlaxoSmithKline Pharma, Zee Entertainment and VSNL ended with sharp losses.

Besides sector heavyweights State Bank of India, HDFC Bank and ICICI Bank, a few other bank stocks also closed on a high note today. Bank of Baroda, Union Bank of India, Allahabad Bank, Indian Overseas Bank, Andhra Bank, Centurion Bank of Punjab, Yes Bank, Oriental Bank of Commerce, Axis Bank, Punjab National Bank, Kotak Bank, Dena Bank, Indian Bank, Bank of Maharashtra, UCO Bank, IDBI and Vijaya Bank were among the major gainers from the banking sector.

Fertilizers & Chemicals hit the roof today. National Fertilizers also hit the upper circuit. Dredging Corporation, Engineers India, Spice Telecom, Punjab Lloyd, Hinduja TMT, Mangalore Refineries & Petrochemicals, Bongaigaon Refinery, LIC Housing Finance, Gujarat Minerals, Aventis Pharma and Bharat Forge closed with strong gains.

Ruchi Soya, Kalyani Steel, Adlabs Films, IOL Broadband, IVRCL Infrastructure, JK Cement, JM Financial Services, Gujarat Alkalies, PTC India, Nagarjuna Fertilizers, Geodesic Infosys, Everest Kanto Cylinder and Kirloskar Oil Engines were among the major gainers from the midcap space.
Among smallcaps, Polyplex, Prime Securities, Nocil, Voltamp Transformers, Panchmahal Steel, Sona Koyo, Dolphin Offshore, South Asian Pipes, Ruchi Infrastructure, Hindustan National Glass, Adhunik Metals, Sahara One, Goldiam International, Mercator Lines, Arihant Foundations, Rico Auto, Deepark Fertilizers, Aztec Software, Noida Toll Bridge and Paradyne Infotech gained significant ground.

Out of 2802 stocks traded on BSE today, 1399 stocks closed with gains. 1340 stocks ended in the negative territory and 63 stocks finished at their previous closing levels.

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GAINER- BSE Group A
Company
Last Price (Rs.)
Gain(%)
fertilisers and chemicals travancore ltd.
28.55
19.95
national fertilisers ltd.
66.80
19.92
dena bank
72.50
11.19
dredging corporation of india ltd.
959.05
9.99
engineers india ltd.
904.10
9.99
state bank of india
2251.75
8.73
bank of baroda
372.85
6.54
punj lloyd ltd.
498.40
6.30
hinduja tmt ltd.
436.00
6.25
mangalore refinery and petrochemicals ltd.
82.10
6.20
bongaigaon refinery ` petrochemicals ltd.
70.85
6.14
union bank of india
187.85
5.92
indian bank
163.15
5.70
tata power company ltd.
1297.05
5.52
l i c housing finance ltd.
354.95
5.23
gujarat mineral development corporation ltd
2647.90
4.99

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GAINER- BSE Group B1
Company
Last Price (Rs.)
Gain(%)
lakshmi electrical control systems ltd.
462.10
19.99
polyplex corporation ltd.
203.75
19.99
jindal photo ltd.
218.00
19.97
national organic chemical industries ltd.
40.30
19.94
agro dutch foods ltd.
30.70
19.92
ruchi soya industries ltd.
117.80
19.83
richa knits ltd.
28.75
19.79
voltamp transformers ltd.
1642.20
19.04
d c m ltd.
58.35
18.71
nilkamal plastics ltd.
241.05
14.56
sona steering systems ltd.
54.80
11.83
kalyani steels ltd.
471.30
11.80
adlabs films ltd.
978.45
11.02
bihar caustic ` chemicals ltd.
75.15
10.10
bayer diagnostics india ltd.
1478.15
9.99
adhunik metaliks ltd
171.70
9.99
paradyne infotech ltd.
241.60
9.99
salora international ltd.
223.20
9.97
visesh infotecnics ltd.
29.70
9.79
reliance natural resources ltd.
142.00
9.39

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GAINER- BSE Group B2
Company
Last Price (Rs.)
Gain(%)
shetron ltd.
61.85
19.98
prime securities ltd.
165.15
19.97
skm egg products export (india) ltd.
18.15
19.80
vikram thermo (india) ltd.
28.25
19.19
bombay swadeshi stores ltd.
108.05
18.21
ashim investment company ltd.
57.95
15.66
alufluoride ltd.
28.70
14.11
panchmahal steel ltd.
269.00
14.05
gei hamon industries ltd
125.00
11.90
sanguine media ltd.
35.35
11.69
ponni sugars (erode) ltd.
34.45
10.95

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Corporate/Personailty of the Day

Oil and Natural Gas Corporation

Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23, 1993) is an Indian public sector petroleum company. It is a Fortune Global 500 company, and contributes 77% of India's crude oil production and 81% of India's natural gas production. It is the highest profit making corporation in India. It was set up as a commission on August 14, 1956. Indian government holds 74.14% equity stake in this company.
ONGC is engaged in exploration and production activities. It is involved in exploring and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India's crude oil requirement. It owns and operates more than 11,000 kilometers of pipelines in India. Until recently (March 2007) it was the largest company in terms of market cap in India.[1].

For More, Visit: http://en.wikipedia.org/wiki/ONGC



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