European Midday Briefing: Earnings Disappointment Adds to Market Gloom morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
MARKET WRAPS Stocks: European shares were in the red on Thursday after a glut of mixed corporate earnings, with some high-profile consensus misses fuelling investor fears about the strength. -October 26, 2023 at 05:28 am EDT
- MarketScreener
Indian refiners are the key beneficiaries of discounted Russian crude and will be able to clock higher gross refining margins (GRM) of around USD9-USD10 per barrel in FY24. GRM of IOC, the countrys largest oil marketing company, has increased more than four times in the last three years. So has its net profit.
"The accumulated profits of Q1 are likely to help tide over the current quarter where margins have turned to basically almost nominal levels. Blended retail margins versus almost Rs 8.5 plus that they made on a blended basis in the first quarter. I would think that the OMCs would want to hold off on trying to pass on any of these price increases as much as is possible because there are legitimate inflationary concerns."