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.
ICICI Securities Report
U.S. snowstorms last week led to fall, closure of oil output, refining and petrochemical capacities.
U.S. oil output recovery is faster (90% restarted as of February 23) while restart of refineries and petrochemical plants is likely to take longer.
The shutdowns have boosted Singapore gross refining margin to the highest level since March-20 and further boosted already strong polyethene and polyvinyl chloride margins.
Net auto fuel marketing margin in Q4 FY21-to-date is at its lowest in nine quarters but is up from lows due to retail price hikes of 9-10%.
More hikes are needed to prevent the margin from plunging in March-21 and being over Rs 2.5/litre from April-21.
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