Oil marketing companies such as HPCL, BPCL and Indian Oil and upstream firms ONGC and Oil India will remain attractive as Brent crude futures fell below $86 a barrel on Monday after Goldman Sachs cut its price forecasts for the contract and for US oil in the first quarter of next year by $15. Nymex crude slid to $79.61/barrel, the lowest since June 29, 2012. The global financial major expects WTI to fall to $70/barrel and Brent to hit $80 in the second quarter of 2015 on oversupply.
Price booster for Hatsun Agro, Heritage Foods
Hatsun Agro Products and Heritage Foods will remain in focus at the bourses, after the Tamil Nadu Government increased the milk price of the 'Aavin' brand by a whopping ₹10 a litre from November 1. While Hatsun Agro sells its products under the brand name 'Arokya' milk, Heritage Foods offers it as 'Heritage'. For both, Tamil Nadu is one of the major markets. Analysts expect these companies to resort to a similar strategy which will improve their bottom lines.
Four key firms announce financial performance
Tuesday will see four widely tracked companies -- Lupin, ING Vysya Bank, Jubilant Life Sciences and ABB -- unveiling their July-September quarter financial performance. Analysts’ expectations are high on Lupin. They expect the company to announce robust growth in topline and bottomline over the year-ago period. However, compared to the first quarter of the current fiscal, analysts expect only a marginal growth. Some even expect Lupin to report lower profits.