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Tuesday, June 8, 2010

Essar Oil to quicken retail push if fuel pricing freed

Private retailer Essar Oil will speed up planned expansion of its retail network if the government decides to deregulate fuel prices, a senior company official said on Tuesday.

S. Thangapandian, head of marketing, said Essar plans to increase its retail network to 1,700 by end-March from the current 1,342.

"Speed of planned expansion will be quicker if fuel prices are decontrolled . It (expansion) may happen by January instead of March,"

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Apr 15
11:30 Claimant Count Rate 2 4.7% 4.6% Revised from 4.7%
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.9% 6.0% 5.8% Revised from 5.9%
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.6% 5.7% 5.6% Revised from 5.8%
11:30 ILO Unemployment Rate (3M) 3 4.4% 4.4% 4.4%
11:30 Employment Change (3M) 3 206K 144K
15:00 10-y Bond Auction 1 4.679%
17:45 Housing Starts s.a (YoY) 1 245K 229K
18:00 NY Empire State Manufacturing Index 2 -12.4 -20.0
18:00 Import Price Index (MoM) 1 0.0% 0.4%
18:00 Manufacturing Sales (MoM) 1 -0.2% 1.7%
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