Oil and Gas Event Update; Big step towards small hikes, follow-up crucial

3 views

Skip to first unread message

Rajesh Desai

unread,

Jan 18, 2013, 7:01:08 AM1/18/13

Event Update

(January 18, 2013)

Event Update

Oil & Gas

Big step towards small hikes, follow-up crucial

· Oil marketing companies (OMCs) allowed to increase diesel prices by 50 paise/litre per month. Govt increases LPG cylinder cap from 6 to 9

· Net annual savings of Rs228bn from diesel price hikes, free pricing for bulk sales and rise in LPG cylinder cap

· Although we like ONGC/Oil India, we believe amongst these ONGC is the best play on pricing reforms given its size and consolidated production growth by FY15

· Within OMCs HPCL more leveraged to pricing reforms, though believe BPCL a safer bet given cushion from upstream valuations

Click here to read report: Event Update

Thanks & Regards,

Emkay Equity Advisory | Emkay Global Financial Services Ltd. | www.emkayglobal.com

7th Floor, The Ruby, Senapati Bapat Marg, Dadar (W), Mumbai– 400 028| Board No.: +91-22-66121212 | Fax : +91 22-6612 1299

--
CA. Rajesh Desai

image002.gif

Reply all

Reply to author

Forward

0 new messages