 "RIL, BPCL, HPCL up over 2% in weak market")
Shares of three listed oil marketing companies (OMCs) Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) along with Reliance Industries (RIL) are trading higher by up to 4% in otherwise weak market on the Bombay Stock Exchange (BSE).
BPCL, the largest gainer among the pack, was up nearly 4% to Rs 941 after the company said its board will consider interim dividend for the financial year 2015-16 (FY16).
The board of directors of the company will meet on January 20, 2016, to consider the proposal for declaration of interim dividend for the Financial Year 2015-16 and record date will be considered, BPCL said in a BSE filing.
BPCL will announce interim dividend after a gap of nine years. Earlier, in January 2007, the company paid interim dividend of Rs 6 per share (60%).
RIL has moved higher by nearly 3% to Rs 1,090, its highest level since June 18, 2014 on the BSE in intra-day trade ahead of its October-December (Q3) quarter earnings in next week.
The board of directors of RIL will meet on Tuesday, January 19, 2016, to consider the unaudited financial results of the company for the third quarter / nine months ended December 31, 2015 (Q3).
The stock surged 31% from its recent closing low of Rs 834 on September 28, 2015, as compared to 3% decline in the Nifty 50 index. Since then, RIL has seen its market capitalization risen by around Rs 81,000 crore to Rs 351,000 crore.
According to India Infoline, four oil & gas majors, namely Reliance, IOC, BPCL and HPCL are expected to report a whopping 451% year on year (YOY) growth and double quarter on quarter (qoq) in combined net profit, taking their contribution to total profit of our universe to 14% compared to merely 2.9% during the same quarter last year.
Even on a sequential basis, the percentage contribution to profit would be double of previous quarter. Lower gross under?recoveries and assumed compensation for the same, higher gross refinery margins (GRMs) with improved product spreads and better marketing margins are the key reasons for the shining performance of these global cyclical, the broking firm said in a Q3 results preview.
Among the other individual stocks, HPCL was up 2.5% at Rs 909, while IOC up 1% at Rs 438 on the BSE as compared to 0.15% decline in the S&P BSE Sensex at 02:19 p.m.
BPCL, the largest gainer among the pack, was up nearly 4% to Rs 941 after the company said its board will consider interim dividend for the financial year 2015-16 (FY16).
The board of directors of the company will meet on January 20, 2016, to consider the proposal for declaration of interim dividend for the Financial Year 2015-16 and record date will be considered, BPCL said in a BSE filing.
BPCL will announce interim dividend after a gap of nine years. Earlier, in January 2007, the company paid interim dividend of Rs 6 per share (60%).
RIL has moved higher by nearly 3% to Rs 1,090, its highest level since June 18, 2014 on the BSE in intra-day trade ahead of its October-December (Q3) quarter earnings in next week.
The board of directors of RIL will meet on Tuesday, January 19, 2016, to consider the unaudited financial results of the company for the third quarter / nine months ended December 31, 2015 (Q3).
The stock surged 31% from its recent closing low of Rs 834 on September 28, 2015, as compared to 3% decline in the Nifty 50 index. Since then, RIL has seen its market capitalization risen by around Rs 81,000 crore to Rs 351,000 crore.
According to India Infoline, four oil & gas majors, namely Reliance, IOC, BPCL and HPCL are expected to report a whopping 451% year on year (YOY) growth and double quarter on quarter (qoq) in combined net profit, taking their contribution to total profit of our universe to 14% compared to merely 2.9% during the same quarter last year.
Even on a sequential basis, the percentage contribution to profit would be double of previous quarter. Lower gross under?recoveries and assumed compensation for the same, higher gross refinery margins (GRMs) with improved product spreads and better marketing margins are the key reasons for the shining performance of these global cyclical, the broking firm said in a Q3 results preview.
Among the other individual stocks, HPCL was up 2.5% at Rs 909, while IOC up 1% at Rs 438 on the BSE as compared to 0.15% decline in the S&P BSE Sensex at 02:19 p.m.
