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Retail Market

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  • November 2009
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Subscription for the OIL (Oil India Limited) IPO closed on 10th September. As per the data available on the NSE website, OIL IPO was subscribed nearly 31 times more than expected by the time the market closed on Thursday. Though the price band has been fixed at Rs 950-Rs1,050 per equity share, analysts see a better listing on bourses.

Subsequent to the IPO and disinvestment, the central government’s stake in OIL will decrease from 98.13 per cent to 78.43 per cent.

Oil India Limited (OIL) is a premier national oil company, engaged in the business of exploration, production and transportation of crude oil and natural gas. OIL, which is the second largest oil and gas company in India, is also the fastest growing energy company with highest profitability.

OIL IPO follows recent offerings from state-run hydro-power producer NHPC and private entity Adani Power, which had together raised just $1.9 billion. Will OIL be able to raise a substantial amount? Will OIL IPO prove investment-worthy? Ganesha takes a look:

Oil India Ltd has Gemini Ascendant and Sagittarius is its Moon sign. Mercury, being the Lord of the Ascendant and the 4th House, is combust with Sun in the 11th House in Aries. The 11th House is the House of benefits through government. When Mercury receives benefic aspects, it ushers in an overall period of prosperity in trade and commercial activities. It also brings about expansion in business activities. The company may also sign profitable deals during this period.

In the horoscope of Oil India Ltd, exalted Sun posited in the 11th House is the Lord of the 3rd House. The company may introduce some favourable policies during this period. Mars, being the Lord of the House of internal affairs and efficiency, is exalted in the 2nd House in Cancer. The company's credit facilities may be seized and financial assistance may be withdrawn by the bankers. The reserves of the firm may depreciate due to unproductive expenditure.

Saturn, being the Lord...

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