BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
We remain positive on oil marketing companies. We see tactical upside in Bharat Petroleum Corporation Ltd. as the stake sale moves to the stage of financial bidding and eventual closure of the deal.
The sharp 6-7% sell-off on Monday is due to two potential worries -
1. the collapse in retail petrol and diesel margins as OMCs have not raised prices for more than two weeks despite the recent spurt in global fuel prices, which have also got an added tailwind from rising spreads and
2. the media news quoting unnamed government sources regarding stiff performance targets for public sector undertakings identified for stake sale to be laid down by ‘Department of Investment and Public Asset Management’ – the official group that oversees divestments.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.