The Govt hiked petrol prices by Rs.7.50 Rs/Liter.
The markets reacted as usual by selling the news.The price action of the PSU refiners were:
IOC: -1.32%
HPCL: -1.74%
BPCL: -0.03%
And this on a day when the Nifty is up by 1.77% !!
In an earlier post, I had mentioned how stocks belong to the same promoter exhibit sector characteristics.
Now the Bajaj pack seems to be on a roll, very close to their 52 week highs
| Symbol | Latest Close | 52 Week Highs |
| BAJAJ-AUTO | 1614.35 | 1811.6 |
| BAJAJCORP | 120.3 | 130.25 |
| BAJAJELEC | 218.5 | 266 |
| BAJAJFINSV | 709.4 | 748.55 |
| BAJAJHLDNG | 807.85 | 849.95 |
| BAJFINANCE | 850.3 | 893.8 |
The Indian markets are unique in the sense that companies having the same promoter are often considered as a “sector” or a “pack” even though the underlying businesses are quite different.
Now the entire Adani pack is hitting their 52 week lows
| Stock | Latest Close | 52 Week Low |
| ADANIENT | 239.95 | 239.95 |
| ADANIPORTS | 114.9 | 114.9 |
| ADANIPOWER | 50.15 | 50.15 |
Despite this bearish market, most Paint Stocks seem to be hitting their 52 week highs or are quite close to them
| Stock | Latest Close | 52 Week High |
| ASIANPAINT | 3623.85 | 3708.75 |
| BERGEPAINT | 129.85 | 129.85 |
| JENSONICOL | 2.85 | 6 |
| KANSAINER | 913.05 | 955.7 |
| SHALPAINTS(bonus adjusted) | 445.55 | 486 |
As the Indian fiscal year has come to an end (April 2011-March 2012), its time to take stock of sector performance over the last one year.
The best performing sector has been Cigarettes :
1.ITC (Up 24%)
2.Godfry Philips (Up 66%)
3.VST Industries (Up 129%)
The worst performing sector has been Telecom Tower infrastructure:
1.GTL Infra (-74%)
2.Sujana Tower (-70%)
3.TN Tele (-55%)