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 governments 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 The company’s credit facilities may be seized and financial assistance may be withdrawn by the bankers.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 of the 8th House, is posited in its own House. Moreover, Jupiter is debilitated, which gives rise to heavy expenditure and erosion of profits. Saturn, being the Lord of the 9th House, inflames tendencies of discontentment among the employees and disrupts the productivity.
Venus, being the Lord of the House of speculation and the 12th House, is exalted and posited in the House of production capacity. During this period, resources of the company may augment. Government policies may turn out to be favourable. This in turn may create an exuberant environment.
Saturn will transit through Virgo in the 4th House. The transit of Saturn in the 4th House may create obstacles and difficulties for the company. The general environment may get spoiled. The operations may not run smoothly and productivity may suffer. The scarcity of essential items may also be greatly felt.
Rahu will be transiting through the 7th House on 18th November, 2009. Rahu’s transit is considered unfavourable as it causes contraction of business activities, results in paucity of resources and slumps in the production. Profit-making activities may slow down. Rahu under affliction can affect the company’s standing. Restlessness may also prevail in the company’s routine functioning.
With Ganesha’s Grace
The GaneshaSpeaks Team