By Premium Bureau

The fall in the performance of the petchem segment, where its EBIT margins fell from 12% to 8% on a YoY was compensated by the oil & gas and refinery segment, barring which the current Q1 could have also been a big disappointment. The improved GRM on a YoY though unchanged on a QoQ was the silver lining. Unlike Q4, there was a fall in ‘other income and though the numbers were much better than what was expected, our Editor, Mr.SP Tulsian  was disappointed and expects the stock to tank below Rs.700 next week and like in Q4, it is the ‘forced’ buy back which will lend support to the share price. He says that there is absolutely no immediate trigger seen for the share price and the fall in the petchem margins is sure to weigh on the market when it opens on Monday.