Money on the markets

Oil & gas index dragged lower by RIL

Aditya Kalra

Jul 28, 2010 17:52 UTC

The BSE Oil & Gas Index closed as the top sectoral loser on Wednesday, falling 1.92 percent mainly on losses in Reliance Industries which saw brokerage downgrades.

Shares of Reliance Industries fell 3 percent after brokerages such as Edelweiss, Motilal Oswal and IIFL downgraded the firm saying the company would take longer to increase gas production at the KG-D6 block.

Other losers in the index were Reliance Natural, which fell nearly 1 percent, and GAIL which slipped 0.8 percent.

Prominent among those that bucked the downtrend was Aban Offshore, which jumped nearly 9 percent after the company said it had received a major portion of the $235 million insurance claim for its semi-submersible rig.

Oil and gas counters slip in trade

Aditya Kalra

Jul 7, 2010 15:43 UTC

It was a weak day of trade for energy counters which saw the BSE Oil & Gas Index topping the list of sectoral losers with a 1.7 percent fall.

Weighing on the sectoral index and the Sensex was Reliance Industries which fell 1.8 percent to 1052 rupees.

Weak day for oil & gas stocks

Aditya Kalra

Oct 20, 2009 12:38 UTC

The BSE Oil & Gas index dropped 1.7 percent on Tuesday, ending as the top sectoral loser of the day as shares of Reliance Industries and ONGC slipped.

Essar Oil was the top loser in the index, closing down 4 percent. ONGC too came under pressure and slipped 2.4 percent.

Investors and the IPO craze

The UPA government’s deferred divestment programme seems to have had a smooth take-off. State utility NHPC’s IPO was subscribed 23.5 times at close.

This is to be followed by an offering from another state heavyweight, Oil India Ltd, on September 7. But what do these high decibel IPOs mean for the stock market and small investors in particular?