Stock Views on Savita Chemicals, Selan Exploration Tech

Crude oil prices have come down to a level of $41 a barrel from a high of $146 a barrel last year. Consequently, upstream oil companies lost, but downstream companies gained. In terms of share price appreciation, downstream companies have outperformed the broader index, the Sensex.

Angel Broking on SAVITA CHEMICALS

Savita Chemicals has reported an above average performance for FY2008 mainly on account of the rise in the product prices, almost stable base oil prices and favourable exchange rate. The high crude oil prices may push up the base oil prices, which would adversely impact the company’s operating profit margins.


Sharekhan on SELAN EXPLORATION TECH

The highlight of the annual report is the upgradation of the proven and probable (2P) reserves of its Bakrol oil field from 43.22 million barrels estimated earlier to 73.3 million barrels after the completion of the current drilling campaign in the field. It drilled seven new wells in the last quarter of FY2008.