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Shares of power companies such as Tata Power and Reliance Power will continue to remain in focus next week due to Delhi polls. Analysts feel an Aam Aadmi Party victory may hit power company stocks as the party’s policies, such as more subsidy for power, and its opposition to reforms, such as FDI in retail, have struck a sour note with investors. Already power companies have started weakening after opinion polls have suggested the party is ahead in Delhi.
80 firms announce results this weekend
Saturday and Sunday will see about 80 companies, including VA Tech Wabag, J&K Bank, JK Cement, Rolta India, Selan Exploration Technology, Seshasayee Paper, IPCA Laboratories, Gujarat Ambuja Exports, FDC, R Systems International, La Opala RG, Schneider Electric Infrastructure, Hindustan Motors, IndBank Merchant Banking, UFlex, Kernex Microsystems and Gujarat NRE Coke (Sunday) declaring their October-December quarter financial performance.
Rising crude to impact down/upstream cos
Shares such as Cairn India, Reliance Industries and ONGC and oil marketing companies such as Indian Oil, BPCL and HPCL will remain in focus, as crude oil prices surged above $50/barrel. While Brent crude futures were $1.30 higher at $57.86 a barrel, NYMEX prices were ruling at $51.50/barrel. Stocks such as Cairn India and RIL will remain resilient as the rise in crude oil prices would result in higher realisations from crude sales for oil exploration firms.
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