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Earnings pressure likely on OMCs as crude prices climb: ICICI Securities

Economic Times

Economic Times · 1m ago

Earnings pressure likely on OMCs as crude prices climb: ICICI Securities

ICICI Securities reports diverging earnings outlooks for Indian oil and gas companies due to Middle East tensions and volatile crude prices. Oil Marketing Companies may experience earnings pressure, while upstream firms might see benefits with crude around USD 73–74 per barrel. Despite market disruptions, the impact on Indian firms is manageable. However, further conflict escalation could pose risks. The brokerage maintains current estimates and recommends caution, highlighting Iran's increased crude exports amid geopolitical challenges.

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Strait of Hormuz remains key flashpoint for India’s Oil, gas flows: Probal Sen

Economic Times

Economic Times · 1m ago

Strait of Hormuz remains key flashpoint for India’s Oil, gas flows: Probal Sen

The Strait of Hormuz is a key concern for India's oil and gas supply, as it channels almost 40% of India's oil and 50% of LNG imports. ICICI Securities' Probal Sen highlights the potential impact of geopolitical tensions in the region on crude prices and Indian Oil Marketing Companies (OMCs). While current crude price volatility introduces risk, OMC stocks like HPCL and BPCL remain valuable long-term investments despite potential short-term retail margin impacts.

Rupee holds steady at 86.06 amid RBI Intervention

Economic Times

Economic Times · 1m ago

Rupee holds steady at 86.06 amid RBI Intervention

The Indian rupee ended nearly unchanged at 86.06 per dollar despite pressures from high crude oil prices and geopolitical uncertainties involving Israel and Iran. Likely intervention by the Reserve Bank of India and a softer dollar index helped stem losses. The currency fluctuated between 85.95/$1 and 86.23/$1. The rupee may remain under pressure due to ongoing geopolitical tensions, with immediate support at 85.60 and possible resistance at 86.50 levels.

B. Prasanna, head of ICICI Bank's treasury, to move to securities unit

Economic Times

Economic Times · 3d ago

B. Prasanna, head of ICICI Bank's treasury, to move to securities unit

B. Prasanna, the head of ICICI Bank's treasury, is set to transition to the bank's securities arm, ICICI Securities, as head of corporate finance and investment banking. He has held the treasury position for nearly nine years. Shailendra Jhingan, head of ICICI Securities Primary Dealership, will succeed Prasanna. Anubhuti Sanghai, currently a non-executive director at the dealership, will take over from Jhingan. ICICI Bank has not commented on the changes.

Nalco shares snap 2-day losing run; is it time to buy this PSU stock?

Business Today

Business Today · 5m ago

Nalco shares snap 2-day losing run; is it time to buy this PSU stock?

ICICI Securities suggests that while Nalco's current price-driven earnings might soon reach their peak, the company will continue to benefit from its long-term structural cost advantage due to the availability of captive coal. This insight is crucial for investors considering whether to invest in this public sector undertaking (PSU) stock, as it highlights the potential for sustained profitability despite fluctuations in earnings.

NCLAT issues notice to ICICI Securities in delisting case | Mint

Livemint

Livemint · 10m ago

NCLAT issues notice to ICICI Securities in delisting case | Mint

- NCLAT issues notice to ICICI Securities following appeal by minority shareholders against delisting approval. - Minority shareholders own 0.002% and 0.08% of ICICI Securities' equity share capital. - NCLT had dismissed objections filed by minority shareholders against delisting in August. - ICICI Securities challenges the maintainability of the petition filed by minority shareholders. - Bench agrees to hear the appeal on its merits. - ICICI Securities announced delisting plan and merger with parent ICICI Bank in June 2023.

IOCL, BPCL, HPCL could see record profits on falling crude prices, Investec hikes target price

Money Control

Money Control · 10m ago

IOCL, BPCL, HPCL could see record profits on falling crude prices, Investec hikes target price

A decline in crude prices is beneficial for oil marketing companies (OMCs) as it reduces their input costs, allowing them to generate higher margins. As crude prices hit lows, foreign brokerage Investec predicts that OMCs could see record profits due to high marketing margins. However, potential government intervention to lower fuel prices ahead of the Maharashtra state election may impact these profits. The fall in crude prices also negatively affects oil drilling stocks like ONGC and Oil India as it squeezes their profit margins. Brent crude prices fell to their lowest levels in almost nine months due to concerns of a demand slowdown in China.

NCLT approves delisting of ICICI Securities, dismisses plea raising objection | Mint

Livemint

Livemint · 10m ago

NCLT approves delisting of ICICI Securities, dismisses plea raising objection | Mint

- The National Company Law Tribunal in India has approved ICICI Bank's application for delisting its financial broking arm, ICICI Securities, from the stock exchanges. - The tribunal dismissed two objections to the delisting scheme while approving it, and a detailed order on the matter is awaited. - ICICI Securities had announced its plan to delist and merge with ICICI Bank in June 2023, which was approved by shareholders in March 2024. - As per the delisting plan, shareholders were to receive 67 shares of ICICI Bank for every 100 shares of ICICI Securities held. - Minority shareholders expressed concerns about the low value and share-swap ratio, questioning the fairness of the deal. - The Reserve Bank of India approved the delisting of ICICI Securities and its transformation into a wholly-owned subsidiary of ICICI Bank, subject to certain conditions.

Is momentum only about price? ICICI Prudential wants to redefine momentum investing

Economic Times

Economic Times · 19d ago

Is momentum only about price? ICICI Prudential wants to redefine momentum investing

ICICI Prudential AMC's newly launched Active Momentum Fund challenges traditional momentum investing by prioritizing earnings momentum over market hype. Unlike the typical focus on rising stock prices driven by speculation, this fund emphasizes sustainable earnings trajectories that drive intrinsic value. Fund Manager Manasvi Shah highlights that the strategy is cycle-agnostic, aiming for diversified investments across sectors and capitalizations. This approach establishes a new paradigm in India's mutual fund landscape by focusing on genuine earnings momentum.

Asian Paints, Berger Paints, Deepak Nitrite, Alkyl Amines, IndiGo shares rise as brent crude falls to four-year low

Business Today

Business Today · 5m ago

Asian Paints, Berger Paints, Deepak Nitrite, Alkyl Amines, IndiGo shares rise as brent crude falls to four-year low

As Brent crude prices fall to a four-year low, shares of Asian Paints, Berger Paints, Deepak Nitrite, Alkyl Amines, and IndiGo have risen. The decline in oil prices generally benefits these companies as it reduces their input costs, positively impacting their profitability. The stock market reacted to this development with increased investor interest in these companies, leading to a rise in their share prices. Lower crude prices are advantageous for industries reliant on oil-based raw materials.

WPI inflation falls to a 20-month low of -0.1% in June

Economic Times

Economic Times · 25d ago

WPI inflation falls to a 20-month low of -0.1% in June

India's wholesale inflation declined to a 20-month low of -0.1% year-on-year in June, driven by reduced food and fuel prices and moderation in manufactured goods costs. Economists predict Wholesale Price Index (WPI) inflation might remain negative in July due to ongoing deflation in food and crude oil prices. The commerce ministry cited decreased prices of food articles, mineral oils, and crude petroleum as primary factors for June's negative inflation rate.

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