The INR 120 bln or $2.4 bln to be added to the government account will leave it with 69% stake in the Oil major, though the subsidy bill is likely to increase further this year beyond the budgeted as the new biudget plans INR 5.5 tln in subsidies and thus adds only for the extra food subsidy bill in the new FSA likely. That oil is above $120 a barrel affects ONGC adversely as it foots more subsidy bills, but it has a pipeline of investors from the uwait and Abu Dhabi SWFs reported in the ET as well as CalPERS It seems Kotak has the elusive mandate of course pro bono / gratis without any revenue adds.

More importantly the SBI results added a new lot of NPAs and I could not get to the Results season analysis with so many virtual noises keeping me to strictly channeled lines for unemployed welfare withouting commiting anyone to donatons or funding these blogs. So, there it is that is all we could do on investments insurance and divestments on the stock exchanges as well. Also FIIs will be directly buying and selling equities and corporate bonds on the bourses as long as they can digest the seemingly lengthy KYC procedures.

RIL continues to lose margins in Natural Gas even as shale prices firm up globally and global inventories keeep reducing, Indian yelds are scarily poised at 8.2% any step down or back up meaning instability, the equities have taken off heading to new exotic ranges of vanilla Nifty calls

The UP elections have been welcome for the ruling party and thus the markets as well. It would be good to see stability in the large state.

Posted via email from The India Investment Post