Skip to main content

RPL

Reliance Petroleum which is likely to add 1% to global gasoline and diesel capacity, is facing one of the biggest risks that refining margins may weaken further. Problems in stabilizing refinery cannot be ruled out despite the past impeccable track record. The refinery may well start in September 2008 but commercial operations are likely just for 3-4 months at best in FY09E.

RPL exporting more to Asian countries than originally envisaged is a threat to
Asian refining margins. RPL's exports to US may be lower than the originally envisaged 30-40%. However, RPL's exports to the US should still be significantly higher than 7%.


Commercial operations from April 2009 not ruled out due to the way the tax holiday works in India, is that if commercial operations start in January, the tax holiday will effectively be for four years and three months.

Additionally their are rumors that a MAT will be levied on RPL's project, we don't think Mukesh Ambani will like it and will keep quiet but will retaliate against the Government, if it moves to impose any tax on RPL.

Merill has rated RPL an underperformer with EPS expectations of Rs 3.6 and Rs 19 for FY09 and FY10 respectively. RPL's DCF based fair value based on long term refining margin of US$12.3/bbl is Rs142/share.

Comments

Popular Posts

Your Bill Amounts Are Going To Increase From June 1, 2016

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Union Finance Minister, Arun Jaitley, in his budget announcements proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The present rate of service tax will be hiked to 15 per cent from June 1, 2016, from 14.5 per cent. Take a look at what gets expensive:



Phone Bills: Your phone bills are going to go up. So, pay a good 15 per cent now on service tax on phone bills.

Restaurant Bills :If you are dining in a restaurant that already has service tax applicable, you are going to pay more on your eating out. Though 0.5 per cent on a single bill may not mean much, frequent diners may end-up paying a lot during the year.

Travelling: You will have to pay more for air travel, as there is a service tax on tour operators and travel agents.

Moneycontrol Terminal - Streaming Live Quotes

Moneycontrol has introduced a new feature Moneycontrol Terminal - an enhanced version of real time price updates. Though there were live quotes provided by the website previously, the present form  gives a better update of live quotes of indices and stocks.

This terminal provides live streaming quotes for both NSE and BSE free. It also provides quotes for most of the indices and also the constituents/stocks of the indices in BSE and NSE.  The terminal also provides live news and other market news, which might be useful for traders. The hardware recommended is minimum of 1 GB RAM.

It would be better if stock of any choice could be added ( market watch of a set of stocks ), which would be easier to track one's trading positions. Anyway, this is a better alternative for people who don't have access to any trading software, to view live action of the markets.




You could just try the same here at Moneycontrol Terminal


NSE Level 3 Data

Before we get into details of NSE Level 3 Data, it is important to first understand the basic operations of the stock market.  All publicly traded equities have a bid price and an ask price when they are bought and sold. The bid is the highest price a trader( or an investor) is willing to purchase a stock. The ask is the lowest price in which he is willing to sell a stock.


Depth of the Market(DOM):Looking at a Level 1, Level 2 or Level 3 quotes can give a trader, a basic idea of how a stock is performing at any given time.

Level 1 Market Data provides the basic market data which includes Bid price, Bid size, Ask price and Ask size.

Level 2 Market Data provides more information than Level I data. Mainly, it doesn't just show the highest bid and offer, but also shows bids and offers at other prices. Now level 2 provides market depth data upto 5 best bid and ask prices.

Level 3 Market Data provides market depth data upto 20 best bid and ask prices .  This primarily used by brokers and ma…