A bump in the road for private fuel retailers

New Delhi: Price controls on transport fuels are likely to hurt the expansion of private petrol pump chains of Rosneft-led Nayara Energy, Shell Plc and Reliance Industries amid concerns that rising global crude prices and approaching elections may tempt the government to give a heavy subsidy to sales by competing outlets of state firms.

The announcement brought a sense of déjà vu to private fuel retailers. India freed up petrol prices in 2010 and diesel prices in 2014, that allowed private retailers to reopen their pumps that were mothballed for years after the government allowed price controls to snap back a decade ago.

The first round of fuel deregulation, in the early 2000s, had lasted just a few years, during which Essar Oil and Reliance Industries had made a significant dent in the state monopoly in fuel retailing. However, public anger after crude oil’s rise to record levels forced the government to resume heavy subsidies that made private sales unviable.

But in the last four years, private players had rebuilt their network, reopening older pumps and adding new ones. With about 4,750 outlets, the biggest private retailer Nayara Energy (formerly Essar Oil) is likely to be the most affected by price controls. Reliance Industries has moved slowly and has just about 1,400 outlets. Shell, the only foreign player operating pumps in country, has 114 outlets. State oil companies control about 57,000 outlets. Nayara hopes to remain competitive.

“Our endeavor is to provide our consumers with a competitive price, hence our fuel prices will be in line with industry standards,” a company spokesperson said.

RIL and Shell declined comment for the story.

Analysts said the reintroduction of subsidy has induced uncertainty in the business. “For private players, things may get more difficult from hereon. Their expansion plans might halt if this were to continue for long,” Ritesh Gupta, analyst at Ambit Capital said.

Market Live: Nifty hovers around 10,400; auto, bank stocks under pressure ahead of MPC meet outcome

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Market Outlook

Sridhar Sivaram, Investment Director of Enam Holdings told CNBC-TV18 in an interview that the crude is expected to stay negative for India and on top of it US interest rates are going up. In such case, emerging markets (EM) generally underperform.

Emerging markets have been down 12-13 percent and Indian markets have fallen 15 percent in dollar terms in more than a month now. “Overall EMs are in a tough spot right now. Look at 2013 data where EMs had faced a similar situation and then came back in growth in 2014-15,” he said.

He further said, “Interest rate is going up but global growth is also inching higher, so look at the US and China both are growing. Emerging markets in select pockets are also growing but at a slow pace because of reset of currencies and market movement.”

Currently, he said he would be a buyer. “If one remembers, in 2013 also we faced a similar situation where crude was at $80 a barrel, currencies falling, people worried about state elections and growth.”

Speaking on the outlook in the coming days, he said currently there are many opportunities which are looking interesting. One can consider companies that have good earnings potential and high cash levels on books, as prices have significantly corrected.

“I would do staggered buying for over a month or two as stocks have the potential to make smart money after 12-18 months despite election noise.”

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Market Outlook

Sridhar Sivaram, Investment Director of Enam Holdings told CNBC-TV18 in an interview that the crude is expected to stay negative for India and on top of it US interest rates are going up. In such case, emerging markets (EM) generally underperform.

Emerging markets have been down 12-13 percent and Indian markets have fallen 15 percent in dollar terms in more than a month now. “Overall EMs are in a tough spot right now. Look at 2013 data where EMs had faced a similar situation and then came back in growth in 2014-15,” he said.

He further said, “Interest rate is going up but global growth is also inching higher, so look at the US and China both are growing. Emerging markets in select pockets are also growing but at a slow pace because of reset of currencies and market movement.”

Currently, he said he would be a buyer. “If one remembers, in 2013 also we faced a similar situation where crude was at $80 a barrel, currencies falling, people worried about state elections and growth.”

Speaking on the outlook in the coming days, he said currently there are many opportunities which are looking interesting. One can consider companies that have good earnings potential and high cash levels on books, as prices have significantly corrected.

“I would do staggered buying for over a month or two as stocks have the potential to make smart money after 12-18 months despite election noise.”

Buzzing stocks: IOC, HPCL, BPCL, ONGC, RIL

NEW DELHI: Indian Oil Corporation (IOC), with over 3.93 crore shares changing hands, was leading among most traded stocks on NSE in morning …

BSNL data offer: BSNL has halved data offered in this plan – Latest News

NEW DELHI: State-owned telecom operator BSNL has revised another recharge plan for its prepaid subscribers. The service provider has revamped the Rs 29 plan under which it is offering both data and calling benefits.

Earlier, the telecom operator used to offer 2GB data with 100 SMS and unlimited local and STD calling under the Rs 29 plan. Now after the revision, the company has reduced the benefits of the plan making it less lucrative. The service provider is now giving 1GB data, 300 SMS and unlimited calling benefits under the plan. However, BSNL has not changed the validity of the plan. The Rs 29 plan comes with the same validity of 7 days.

As reported by Telecom Talk, the Rs 29 plan from BSNL is presently active in the telecom circles of Delhi and Mumbai.

Apart from the above mentioned plan, the telecom operator has also introduced a new plan of Rs 9 for its prepaid users. The plan comes with the validity of 1 day and users will get 100MB data, 100 text messages and unlimited calling facility as part of the plan. The company has introduced both the plans under the Chhota Packs series.

Despite a revision in the Rs 29 plan, the telco is offering a better deal as compared to the others. For instance, Reliance Jio has a plan of Rs 52 under which users get unlimited calling benefit and 150MB data per day with the validity of 7 days. On the other hand, Airtel and Vodafone also offer similar kind of plans at Rs 59 and Rs 47 respectively. Country’s second largest telco Airtel offers unlimited calling, 100 SMS and 1GB total data for seven days under Rs 59 plan. Whereas Vodafone gives unlimited calling with a daily FUP limit of 125 minutes and 500MB of data as part of Rs 47 plan. The only difference is in the validity of the plan. The Vodafone plan comes with the validity of 28 days.

Outlookindia | Vodafone Idea Ltd. | stock & share price update with analysis

Opening Bell !

Updated at 10.02 AM

After closing at Rs. 33.80 yesterday, Vodafone Idea Ltd. opened at Rs. 33.85 today.
Today’s opening price was observed to have decreased 2.15 points as compared to yesterday’s opening price.
Also, the prices went as high as Rs. 37.05 and fell as low as Rs. 33.10 the previous day.
One stock of Vodafone Idea Ltd. was seen to be priced at Rs. 33.65 while a change of -0.15(-0.44%) points from the previous trade was also observed as last checked on Oct 05, 09:54 A.M.
The bid-ask spread was observed to be -0.05 points while the volume weighed average price(vwap) was Rs. 33.42 .
A price band of Rs. 30.45 – 37.15 was also provided by Vodafone Idea Ltd. to indicate the upper and lower cost range for the day.

Updated at 9.08 AM

Yesterday, Vodafone Idea Ltd. saw a high of Rs. 37.05 which was 1.05 points more than the opening price after which it closed at a price of Rs. 33.80 .
Also, it saw a minimum of Rs. 33.10 which was 2.9 points less than the opening price.
By the end of the day 33,985,770 stocks were recorded to be traded with the 5 day average volume being 24,904,416 , the 10 day average volume being 25,140,218 and the 30 day average volume being 25,822,015 stocks.
In contrast to the previous day, the 5 day average volume rose 24904416 stocks, 10 day average volume rose 25140218 stocks and 30 day average volume rose 25822015 stocks.

Outlook Money | idea 532822 | stock & share price update with analysis

Opening Bell !

Updated at 10.02 AM

After closing at Rs. 33.80 yesterday, Vodafone Idea Ltd. opened at Rs. 33.85 today.
Today’s opening price was observed to have decreased 2.15 points as compared to yesterday’s opening price.
Also, the prices went as high as Rs. 37.05 and fell as low as Rs. 33.10 the previous day.
As of Oct 05, 09:54 A.M. one stock of Vodafone Idea Ltd. was observed to be priced at Rs. 33.65 with a change of -0.15(-0.44%) points from the previous trade.
The volume weighted average price (vwap) was Rs.33.42 and the bid-ask spread was -0.05 points.
With this Vodafone Idea Ltd. also provided a price band of Rs. 30.45 – 37.15 for the day.

Updated at 9.02 AM

After touching a maximum of Rs. 37.05 which was 1.05 points more than the opening price, Vodafone Idea Ltd. closed at Rs. 33.80 yesterday.
Also, the lowest price which was Rs. 33.10 went 2.9 points lower than the opening price.
The last volume that was traded was of 33,985,770 stocks and by the end of the day, the 5 day, 10 day & 30 day average volumes were 24,904,416 , 25,140,218 and 25,822,015 respectively.
In contrast to the previous day, the 5 day average volume rose 24904416 stocks, 10 day average volume rose 25140218 stocks and 30 day average volume rose 25822015 stocks.

WhatsApp and Reliance Jio launch campaign on how to use WhatsApp on Jio Phone

WhatsApp and Jio will visit 10 Indian cities in vans&nbsp

WhatsApp on Jio Phone and Jio Phone 2 has just been made available and while WhatsApp support was one of the most anticipated features for all Jio Phone users, WhatsApp and Reliance Jio have collaborated for a nationwide campaign during which they will let people know how to use WhatsApp on Jio Phone to connect with friends and family in a simple, secure, and reliable way.

The educational campaign will begin from October 9 in India and both the companies will travel across the country together in vans while visiting 10 cities in the states of UP, Rajasthan, and more. “Jio has an important role in driving India’s digital revolution by empowering millions of Indians. We are excited to be a part of this journey and help organise a campaign that educates people on how to communicate in a simple and safe way with WhatsApp,” said a WhatsApp spokesperson.

On the other hand, WhatsApp support is being rolled out for both Jio Phone and Jio Phone users and while the company has already sold over 25 million Jio Phones, the introduction of WhatsApp support and Jio Phone 2, is expected to help Reliance Jio achieve its target of 100 million units by the end of this year.

Also read: WhatsApp support for Jio Phone: Can Jio Phone be a smartphone alternative for the masses?

As a part of the campaign, there will be events in each city to show people how to use WhatsApp safely and responsibly. The collaboration also includes street plays, the popular art form of outreach, to engage people and guide them on the meaningful and responsible ways to use WhatsApp on JioPhone. The companies have also developed video tutorials and informative leaflets, available online and in Jio Stores in 11 Indian languages including Hindi, Bengali, and Marathi.
 

India vs West Indies Test Live Streaming: How to watch IND vs WI Live Stream on Hotstar, JioTV and Airtel

India will take on West Indies in the first Test of the two-match series at the Saurashtra Cricket Association Stadium in Rajkot on Thursday.

Virat Kohli’s men will look to make the most of the opportunities at their disposal in red-ball cricket ahead of their tour to Australia.

India vs West Indies Live Score

Getting their combinations in order before the grueling assignment in Australia, will be high on the agenda as India prepare to take on West Indies in a two-Test series, which starts in Rajkot on Thursday.

A comprehensive beating of the West Indies at this stage can only serve as a morale-booster to the Indian side which will face another stern test with the Australia tour beginning late November.

India will be going in with KL Rahul and young debutant Prithvi Shaw as openers, after announcing an unprecedented 12-man squad on the eve of the match.

The only toss-up on the day will be between going in with three spinners or three pacers having named three spinners – Ravichandran Ashwin, Kuldeep Yadav and Ravindra Jadeja – and three fast bowlers Mohammed Shami, Umesh Yadav and Shardul Thakur in the 12-man squad.

There is abundance of talent in the Caribbean outfit too but it lacks the experience required to be competitive in India.

Only five players in the 15-man squad have played a Test in India and to make matters worse, one among them lead pacer Kemar Roach will be missing the series-opener due to the death of his grandmother back in Barbados.

The others who have played on the Indian soil are Devendra Bishoo, Kraigg Brathwaite, Kieran Powell and Shannon Gabriel.

In fact, the West Indies will be playing a Test in India for the first time since November 2013 when they had become part of Sachin Tendulkar’s farewell series.

The West Indies come to India after drawing with Sri Lanka 1-1 and beating Bangladesh 2-0 at home.

What time does the 1st Test between India vs West Indies start?

Day 1 of the first Test starts on 9:30 AM IST on October 4, Wednesday at the Saurashtra Cricket Association Stadium.

What TV channel and live stream is the 1st Test between India and West Indies Live Streaming on?

Star Sports 1 and Star Sports 1 HD in English commentary and Star Sports 3 and Star Sports 3 HD in Hindi Commentary. Hotstar, JioTV and Airtel TV will live stream India vs Bangladesh match.

Where will the 1st Test between India and West Indies be played?

The 1st Test between India and West Indies will be played at the Saurashtra Cricket Association Stadium, Rajkot from 09:30 IST.

Where can I watch the India vs West Indies 1st Test live?

The match will be shown in Star Sports network and can also be streamed on hotstar.com.

Where can I check the online live updates of the India vs West Indies 1st Test?

You can follow our ball-by-ball-updates of the match between India vs West Indies from our live blog on indiatoday.in.

What are the squads for the 1st Test between India and West Indies?

India (12-man) squad: KL Rahul, Prithvi Shaw (debut), Cheteshwar Pujara, Virat Kohli (C), Ajinkya Rahane, Rishabh Pant, R Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Shardul Thakur.

West Indies squad: Jason Holder (C), Sunil Ambris, Devendra Bishoo, Kraigg Brathwaite, Roston Chase, Shane Dowrich, Shannon Gabriel, Jahmar Hamilton, Shimron Hetmyer, Shai Hope, Sherman Lewis, Keemo Paul, Kieran Powell, Kemar Roach and Jomel Warrican.

BSNL Rs. 29 and Rs. 9 prepaid recharge plans revised, now offering up to 1GB data and more

BSNL Rs. 29 and Rs. 9 prepaid recharge plans revised&nbsp

The BSNL Rs. 29 and Rs. 9 prepaid recharge plans were launched as part of the telco’s Freedom Offer in August and now, Bharat Sanchar Nigam Limited (BSNL) has revised the Rs. 29 and Rs. 9 prepaid plans, which are offering up to 1GB data and more benefits. Earlier, the Rs. 29 BSNL recharge was launched to take on Reliance Jio’s short-term prepaid offers.

For the unknown, the BSNL Rs. 29 prepaid recharge plan was earlier offering unlimited data with a 2GB data per day, 100 SMS per day and unlimited local/ STD voice calling with a validity of seven days. After the revision, the same plan comes with a total of 1GB data, 300 SMS for the whole validity period, unlimited local/ STD voice calling and a seven-day validity. 

On the other hand, the BSNL Rs. 9 prepaid recharge which earlier gave 2GB data, 100 SMS, and unlimited local/ STD voice calling for one day, now comes with 100MB of data, 100 SMS and unlimited voice calling for the same validity period.

Also read: BSNL offering 1-year free Amazon Prime subscription: Here’s who can claim it and how

Both these plans from BSNL also comes with unlimited national roaming, however, this benefit cannot be availed in Delhi and Mumbai since the telco doesn’t operate in these two circles.

In comparison, Reliance Jio’s Rs. 52 prepaid plan comes with 0.15GB data per day, a total of 70 SMS and unlimited voice calling for a period of seven days. On the other hand, Jio’s Rs. 19 recharge pack comes with the same benefits but it is valid for just one day.

Reliance Industries, HDFC, Cipla may suffer more, ICICI Bank and Axis Bank to bounce back

Bull market or bear market?
Nifty closed below its strong support of ‘200 EMA’ and 61.80% retracement level of the previous rally. Thus, we may see a continuation in ongoing pessimism in coming days too.

Stocks likely to be in limelight today?
Stocks like Reliance, HDFC Ltd, Cipla, and UPL may show further weakness. While we are expecting some bounce back in banking counters like ICICI Bank and Axis Bank.

Sectors likely to impact market today?
IT and Pharma sector may remain under pressure. While some buying can be seen in Banking and Metal space.

Your mid-term view?
We continue to maintain our bearish stance on the market and are expecting Nifty to correct further towards 10200 – 10150 level.

Watch this Zee Business video here:

What drove markets on Thursday?
Strong sell-off in Oil & Gas, IT and Pharma indices dragged the market lower. Rising crude prices and falling rupee also dented the sentiments.

By, Jay Purohit, technical and derivatives analyst, Centrum Broking

Source: DNA Money