Motilal Oswal - MOSL: Morning India (07/July/17)-1. Oil Gas 1QFY18 Preview (Crude prices down QoQ)-2. NMDC-3. Gujarat Gas-4. Indigo-5. Fuel or Engines (Economy)

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Motilal Oswal

Team Research

MOSL: Morning India (07/July/17)-1. Oil & Gas 1QFY18 Preview (Crude prices down QoQ)-2. NMDC-3. Gujarat Gas-4. Indigo-5. Fuel or Engines (Economy)

â€‹MOrning India (07/July/17): 1. Oil & Gas 1QFY18 Preview (Crude prices down QoQ); 2. NMDC; 3. Gujarat Gas; 4. Indigo; 5. Fuel or Engines (Economy)

Todayâ€™s top research theme

Oil & Gas | Preview 1QFY18: Crude prices down QoQ; GRMs up YoY/flat QoQ; Inventory losses to dampen refinersâ€™ earnings

â€‹Brent has declined 7% QoQ to USD50.2/bbl, while Singapore GRM has stayed flat QoQ at USD6.4/bbl. Due to the decline in oil prices, we expect inventory loss to hit all refiners â€“ they had reported inventory gains in the previous quarter.
Gross marketing margins on diesel and petrol have also contracted. However, petrochemical margins have improved sequentially. As a result, while oil marketing companies are expected to report poor earnings this quarter, RIL would remain broadly flat sequentially. Domestic oil & gas production has improved, which would be beneficial for the upstream companies.
All CGD companies are expected to show robust volume growth. Petronet is expected to exhibit improvement in sales volumes this quarter.

Piping hot news

Tatas, Bharti on a call to explore joint front in telecom and DTH

â€‹The Tata Group and Bharti Enterprises have held exploratory talks to evaluate a mega alliance involving their telecom, overseas cable and enterprise services, and direct-to-home TV businesses, several people familiar with the matter said.

07/07/2017 24 EN

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MOSL: Morning India (07/July/17)-1. Oil & Gas 1QFY18 Preview (Crude prices down QoQ)-2. NMDC-3. Gujarat Gas-4. Indigo-5. Fuel or Engines (Economy)

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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