How diesel prices have doubled in last decade

Riken Mehta
Moneycontrol.com

The latest price hike of diesel has sparked off a political debate and has angered the common man too. But economists argue that the raise was inevitable to ease economic pressures.

With this increment, diesel will now cost Rs 52.45/litre, which is a two-fold jump from Rs 23.29/litre available in September 2002. Based on Kirit Parikh committee's recommendations, the government decontrolled petrol in June 2010, but diesel continued to be subsidized. Oil marketing companies likeHPCL  , BPCL  , IOC  were selling the fuel at least Rs 13-15/litre lower than its actual cost.

Post the hike in diesel prices and capping of LPG cylinders to 6 per family, OMCs will see their under-recoveries shrink by roughly Rs 20,300 crore in FY13 than the earlier estimation of Rs 1.8 lakh crore.
 
Here's a snapshot of diesel price movement in the last 10 years. Data Source: www.mypetrolprice.com

How Apple stock has reacted to previous iPhone launches

Riken Mehta & Sagar Salvi
Moneycontrol.com

The internet is flooded today with all sorts of news and conjecture on Apple’s much anticipated product launch. The world's most valuable company by market-cap will try to close that gap on Wednesday with the unveiling of the newest iPhone, which is widely expected to offer 4G wireless technology for the first time, and a 4-inch display, up from the current 3.5 inches.

According to analysts, Apple could sell as many as 10 million iPhones by the end of September alone. By contrast, it took its closest rival, Samsung Electronics, about 50 days to sell 10 million of its flagship Galaxy S III smartphone.                   

Apple's new iPhone could contribute as much as a half a percentage point to US economic growth in the fourth quarter, according to analysts at JPMorgan Chase & Co. The company garnered 43% of its USD 108.2 billion in sales last year from the iPhone.

iPhone sales also are what investors watch the most closely. Apple shares typically rally ahead of, and sell off after, a major product launch. Apple’s shares fell in July after the company reported disappointing sales of the handset.

However, they have gained 15% in the past six weeks to touch an all-time high on Monday.  For the year, the shares are up by 64%.

Chart: Timeline - iPhone launches versus Apple share price movement since previous launch