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Of Rising Crude Oil Prices, IPO of HDFC Standard Life Insurance and Top Stocks in Action Today
Thu, 9 Nov Pre-Open | Monish Vora, TM Team

Crude Hitting 64 Dollars is Bad News for Corporate India and Indian Economy

From the lows of 30 dollars in 2016, the crude prices have now risen to 64 dollars. Oil prices rose as both US crude production and inventories declined. With, Organization of Petroleum Exporting Countries (OPEC) cutting production, global oil markets seem to be broadly balanced now after years of oversupply.

The rise in the crude prices, could be negative for companies for whom crude is the main raw material. Some of the industries in which crude and its derivatives is the main raw material are paints, FMCG, aviation, specialty chemicals.

Not only this, rising prices of crude oil can could end this governments fiscal honeymoon. One huge advantage which the Modi government enjoyed since coming to power was weak oil prices. This significantly reduced the import bill of the government, which aided the government to maintain fiscal deficit at lower levels.

With crude rising, and consider that the country imports 80% of its oil requirements, it could be a big negative for the economy. Every one dollar rise in the crude oil prices, raises our import bill by a mammoth US$ 1.33 billion. This money could rather have been spent on infrastructure activities which could well have spur the economic growth of the country.

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Should One Subscribe to the IPO of HDFC Standard Life Insurance Co?

Incorporated in 2000, HDFC Standard Life Insurance Company Ltd (HDFC Life) is Mumbai based life insurance provider in India. HDFC Life offers a wide range of individual and group insurance solutions including Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.

The IPO is at a priced at a band of Rs 275-290 per equity share. The issue closes today. At the time of writing, the issue was subscribed by 81%.

Click here (subscription required) to get our detailed view on this IPO.

Top Stocks in Action Today

The likes of Aurobindo Pharma, Amara Raja Batteries, Tata Motors, Dr Lalpath Labs are expected to be in the news today as they announce their results for the quarter ended September 2017.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

Mar 5, 2021 Closing

Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

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