RIL Q4 net down 4.6% at Rs 4236 cr; GRM surprises street

Mukesh Ambani Group's flagship company Reliance Industries 's net profit fell 4.6% QoQ to Rs 4,236 crore in the quarter ended March 31, 2012 from Rs 4,440 crore in the previous quarter.

Net sales increased marginally at Rs 85,182 crore from Rs 85,135 crore quarter-on-quarter.

However, the company surprised the street by reporting higher than expected gross refining margin (GRM) in the March quarter. GRM came in at USD 7.6 a barrel as against USD 6.8 a barrel in the previous quarter. The street was expecting it at flat.

Revenues from its petchem segment increased 8.25% to Rs 21,412 in Q4FY12 from Rs 19,781 crore in the previous quarter. Petchem EBIT margin declined at 10.2% versus 10.9% during the same period.

Refining revenue declined moderately at Rs 76,211 crore from Rs 76,738 crore quarter-on-quarter. Refining EBIT margin was unchanged at 2.2% during the same period.

Oil & gas division's revenues fell 7.91% to Rs 2,608 crore from Rs 2,832 crore during the same period.

RIL submitted revised development plan for D-26 to the Directorate General of Hydrocarbons.

Reliance has decided a final dividend at 85% to the face value of Rs 10 a share.

For the year ended March 31, 2012, the company posted gross refining margin at USD 8.6 a barrel as against USD 8.4 a barrel in last fiscal.

Oil & gas producer's net profit for the fiscal 2011-12 dropped to Rs 20,040 crore from Rs 20,286 in the earlier fiscal.

However, net sales during the same period jumped 33% to Rs 3,29,904 crore from Rs 2,48,170 crore.

 

RELIANCE (INTRADAY-20APR)- TECHNICAL SHAPE BEFORE FRSULT

Above is 15 minutes chart for Reliance. Chart itself can speak a lot things. It is indicating for few crucial support,
Intraday is 730.
Support starts breaking and closes near to 718 then it can result fall.
Before result - things looks 70-30 in favour of bears as of now

20 APRIL - NIFTY - ALL SET TO FALL AGAIN FROM TODAY OR MONDAY

Nifty has again tested the crucial 5342 levels. We must note that on Thursday and wednesday, we got high at 5342.

From this levels,
 "We need a bear gap down to see the confirmation of fall. "Bear gap down" is the gap down down which came after curtain rise and never filled up soon. Somehow it is not indicating that we will see any big dip today although we are on resistance."

I am not getting to trade long ahead of Reliance quarterly numbers. It looks that we those might not able to give cheer mode to the market.

Nifty spot- Cross over of 5342 can generate targets as 5359 and then 5379 levels. (... but chances are not for any great rise).

In the lower side, returning from 5342 can take attempt to move towards 5270.

Have a look at the 10 minutes intraday chart. I have taken the move from 5183.50 to 5342.50. Its 159 points of rise.

You must keep these three figures in your mind after breakout. These figures are given with reasoning.
5338 - 50 days moving average.
5359 - 38.20% of retrenchment from top.
5379 - Previous reversal point.

NIFTY FUTURE: As long as stay below 5365 it can be a short trade opportunity. Only cross over of 5365 will give impulsive rise towards 5400 to 5410. Chances are lesser for those opportunities.

Place Stop loss @ 5365 and short in range of 5230-5340.

Read http://www.viecapital.com/ for stocks views
Follow us on twitter a/c 'viecapital' to get  intraday updates.

Thanks & Regards,
Praveen Kumar

Major reforms unlikely before 2014 polls, says chief economic advisor Kaushik Basu

WASHINGTON: Major economic reforms in India would hit a roadblock and are unlikely to happen before the next parliamentary elections slated for 2014, chief economic adviser Kaushik Basu has said.

Addressing a meeting at the Carnegie Endowment for International Peace on Wednesday, an eminent Washington-based thinktank, Basu said that relatively less important bills might go through Parliament.

After 2014, he said, "you would see a rush of important reforms" and after 2015 India would be one of the "fastest growing" economies of the world. The new government, if in a majority, would start with the reforms in a big way because there is a sense that it needs to pick up, Basu added.

At the same time, he said, there were some reforms that needed to go into fast gear and identified opening up of the retail sector as one key reform in waiting. India, he said, also needed to address the issue of massive subsidy leakage and that of poor infrastructure.

After the elections, the government of the day would take reforms on fast track and there would be a flurry of reforms, Basu said in his address.

Kaushik Basu said there is a slowdown in decision making. The unearthing of a series of corruption and scams, he argued, is having its own impact on the psyche of the bureaucracy, that is not willing to take risks.

 

Read complete on this link -

http://timesofindia.indiatimes.com/india/Major-reforms-unlikely-before-2014-polls-says-chief-economic-advisor-Kaushik-Basu/articleshow/12738583.cms