In the recent reports ‘Deustche bank’ put a sell on the RPL and hold on RIL. This is the first sell call on RPL.
Six months back the same company downgraded the RPL but now it is recommending to “SELL”.
International ratings agency S&P has downgraded the refining behemoth’s earning prospects this year, becoming one of the many that are rather pessimistic about RIL’s earnings, particularly its refining revenues that make up two thirds of its total sales.
The bank has also cut by 30% its forecast for RIL’s consolidated revenues in FY10 due to the dropping margins and weak demand for petrochemicals, which account for nearly a third of the company’s sales. Deutsche said it believes that the petrochemical sector is in “one of its worst downturns since the 1980s”, which is likely to continue till 2012.
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With thanks
Be and make
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