India's largest natural gas field Bassein in the Arabian Sea has seen a remarkable turnaround with the natural decline that had set in at the year old field reversed and output slated to rise by a quarter to a record high in
Companies have warned investors and analysts of more weakness in earnings as the impact of demonetisation and Goods and Service Tax GST may defer earnings recovery by a few more quarters. Now it could take quarters for companies to cope with these changes," said Raamdeo Agrawal, managing director, Motilal Oswal Financial Services.
These companies have warned further weakness is likely in the coming quarters.
Zee Entertainment, in its commentary after the June quarter results said, "The GST rollout has affected growth in the month of June and also in July, thus Q2 could also reflect some softness. Analysts said it has become clearer after the June quarter that earnings recovery in FY18 would be a challenging.
Aggregate sales of Nifty 50 companies in the June quarter grew by 9 per cent over June quarter, but net profit fell by 10 per cent during the same period. Across the broader market, revenue growth of 1, companies accelerated to 10 per cent year-on-year YoY while the net profit fell by 11 per cent YoY.
Margin compression was seen across sectors mainly in healthcare and consumer discretionary. Bulk of the net profit decline has come from telecoms and consumer discretionary sectors.
Investors have been betting on an earnings recovery since the previous financial year. Some analysts said there is little evidence of a strong turnaround in the economy and do not rule out further downgrades.Shree Steel Wire Ropes Limited manufactures and sells wire rope and wire rope allied products primarily in India.
The company offers stainless steel wire ropes, stainless wire rope slings, wire strands, regulating equipment, traction bonds and masts, and anti creep wire ropes; and non-ferrous castings, aluminum alloys, aluminum bronze, and brass.
General Notes on UI Account for the Week From to Revised Allocation of Wind Farm Energy Received for the week from to Oil and Natural Gas Corporation (ONGC) and Gujarat State Petroleum Corporation (GSPC).
with the demand outpacing supply and companies aiming at increasing the gas grid network. This will. Apart from the long-product pipeline demand.
The NSE Nifty was moving in a tight range around its previous closing value due to lack of domestic and global cues. The market already priced in the news like consistent deadlock in parliament. GAS-OIL News: ONGC's natural gas production hit all-time high of 70 mmscmd Published on: Nov 23, 0 hits GAS-OIL News: Modus Seabed completes ONGC .
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