M&M @641 (280508) gets 1085 panch-tattva points and it may be bought for medium term,but you may partly book profits till next result announcement.
IOC @425 (280508) gets 1040 panch-tattva points and this should be bought for long term and the opportunity to book profits should be honoured by selling part quantity .
P.S. You may see the applicable charges in ‘the new schemes ‘ which have been revised wef 1st June 08.
Friends,
The oil barrel traded for the high f $135/bbl and has given up some gains today settling at $130/bbl. The world stock markets became unnerved for the rise in oil. There is however an other side to it. The oil got to become a prized commodity on back of the mass car production made possible by the assembly lines. The future developments made the engines efficient and more number of cars could be run for the same quantity oil and it was a relief. Then came time when the car became a commoners means of commuting in countries like China and India too and oil started boiling. Not to be left behind the Aeroplane manufacturing was made much more cost efficient with the computer aided design and manufacture , also through increase in the numbers produced (economies of scale of production). The air tarvel became affordable to all and sundry. The oil had further push in terms of relative pricing and importance. The plastics became popular and required oil for its production and the need to grow more food by use of fertilisers made demand for oil jump up. On top of it the oil producing countries organised themselves and the supply of oil became conntrolled. The oil is selling at such high prices is no wonder.
The mother earth had the environmental discomfort on account of excessive use of petroleum products. No body paid heed for growth of economies could not be curbed. The extremes are corrected through the extreme on the other side. This is what is happening. But is there a cause of worry. I think not.
Back in India our govt. is contemplating imposing a cess on income tax to cover part of losses in oil under-recoveries. I think the K.I.S.S. principle is not appicable to them, they could have straight away made oil pricing free, ensuring more restrained use of oil in more rational ways. There should be higher tax on big cars and SUVs. there should be stress on harnessing solar enrgy. There should be a greater effort in the area of mass transportation and rationalised city planning. The solar power should be harnessed as an alternative to oil. There are many ways and means to curb the petroleum use.
The USA has set an example. The Road Miles travelled in USA were down by 4.3% in the month of March 08. The sales of oil guzzeling SUVs is down. The used SUV prices are down 17.5% there. Fuel expenditure as a portion of household budgets is as much high as in late seventies. The oil price rise in pinching as there no commensurate increase in incomes. But the free pricing mechanism back in USA will take care of the high oil price.
We in India are in fact subsidising the cost of oil and allowing its unrestrained use. Stange are ways here. We are invinting problem rather putting it off. Have not the economies of the world advanced along with the rise in oil prices so far. Travel at drop of hat is bad and should be curbed. OIl never was an essetial element for man kind in distant past , it may not be all that important in distant future. The only thing is that alternative sources of energy have to be developed, the reserch in this direction should be intensive. How far the world’s future may be clubbed with some thing which has only a limited supply and that too in the hands of few countries.
So, lets forget oil and concentrate on the task at hand. Distortions in the economy should be avoided but our leaders have a different agenda.
HariOm,
krsnaKhandelwal
