Marketing sales have improved from April lows but are still lower YoY. Fuel demand in July fell MoM due to localised lockdowns and monsoon. Post excise duty hike, HPCL has hiked retail prices by ~Rs 9-12/litre, which will result in steady marketing margins, going forward. However, we remain neutral on HPCL at the current juncture given the volatility in refining margins. We maintain HOLD rating on the stock with a target price of Rs 220 (based on average of P/BV multiple: Rs 247/share, P/E multiple: Rs 192/share). … [Read more...] about Hold Hindustan Petroleum Corporation; target of Rs 220: ICICI Direct
Corporate tax cuts
In the case of companies and businesses, they are supposed to file ITRs even in case of ‘nil’ income. However, this is not applicable to individuals as only those with total income above Rs 2.5 lakh are required to file returns. For senior citizens, the limit is Rs 3 lakh, the report suggested. … [Read more...] about Gujarat top tax-compliant region in India, Bihar comes last
- Nature of employment: If you have safe employment with no fear of job loss, then you can live with a smaller buffer of up to three months’ expenses. But if you are part of industries/sectors that are prone to layoffs and where opportunities are fewer, then ideally you need a bigger cushion. So the standard 3-6 month advice should be adjusted according to the threat of job loss and the probability of getting a new similar job quickly. Something like 6-9 months or even up to 12 month’s expenses can be considered in such cases. … [Read more...] about When layoffs and pay cuts abound, how large should your emergency fund be?
Sundram Fasteners Ltd on Wednesday said it has recorded a consolidated net loss of Rs 25.43 crore for the quarter ending June 30, 2020 following the unprecedented challenges bought by the COVID-19 pandemic during the period. … [Read more...] about Sundram Fasteners consolidated April-June net loss at Rs 25.43 crore
Prasad, named so by his master Oliver Sahib from England when he was bought to work in tea estates in Assam, must be 86 years old, according to Dr Kushal Konwar Sharma, one of the 118 Padma Shri awardees announced for the year 2020, a News18 report said. … [Read more...] about World Elephant Day | Meet Bijuli Prasad, the oldest living Asiatic elephant