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

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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.

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