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The Economic Times

Indian refiners using Russian insurance for oil above $60/bbl, govt source says

Indian refiners are using Russian insurance for oil cargoes priced above $60 per barrel, bypassing the G7 price cap. Russian firms insured 60% of these shipments to India in July, up from 40% in December. India is now the top buyer of Russian oil, overtaking China.

The Economic Times

Indian Oil Corp. shares drop 2.04% as Sensex rises

A total of 1,286,295 shares changed hands on the counter till 01:43PM (IST)

Business Standard

Gold, Equities, Oil, Bonds: What next for these assets after Fed rate cut?

US Fed rate cut: Asian equities, however, saw meaningful gains Thursday morning where Indian stock market hit fresh record highs

Mint

Stock market today: Birlasoft, Granules, RBL Bank among ten stocks in F&O ban list on Sept 19

Aarti Industries, Balrampur Chini, Biocon, Birlasoft, GNFC, Granules India, LIC Housing Finance, Oracle Financial Services, PNB, and RBL Bank are the ten stocks on the NSE's F&O ban list on September 19.

The Economic Times

Indian Oil Corp. shares fall 0.43% as Nifty gains

A total of 352,769 shares changed hands on the counter till time (IST).

The Economic Times

Indian plans to keep buying cheap Russian oil, Hardeep Puri says

India will continue buying oil from Russian companies not under sanctions due to low prices, says Oil Minister Hardeep Singh Puri. With 88% of its oil needs imported, India seeks the cheapest suppliers. India also plans to expand its refining capacity and increase natural gas usage if prices stabilize.

Mint

Indian Oil Corporation share are down by -0.94%, Nifty up by 0.23%

Indian Oil Corporation Share Price Today on 18-09-2024: On the last trading day, Indian Oil Corporation (IOC) opened at ₹170.95 and closed at ₹168.95. The stock reached a high of ₹171.15 and a low of ₹168.85 during the day. Overall, the stock experienced a decline, closing lower than its opening price.

Mint

Stock market today: Biocon, GNFC, PNB among ten stocks in F&O ban list on Sept 18

Aarti Industries, Balrampur Chini, Biocon, Birlasoft, GNFC, Granules India, Hindustan Copper, LIC Housing, PNB, and RBL Bank are the ten stocks on the NSE's F&O ban list on Sept 18

The Economic Times

Market Trading Guide: CG Power, Oil India are stock recommendations for Wednesday

Indian indices continued their winning streak, ending at record highs. Nifty closed at 25,418.55, up 34.80 points. Analyst Rupak De sees a breakout from the recent range-bound pattern as crucial for determining the next direction. Support is at 25,350, and resistance is at 25,500.

CNBC TV18

LIC raises its stake in Biocon from 4.982% to 5.023%

Under the updated disclosure regulations, LIC's ownership has risen from 5,98,14,429 shares to 6,03,14,429 shares.

The Economic Times

IREDA, Oil India among top 10 midcap stocks sold by mutual funds in August

Fund houses held fewer Indian Renewable Energy Development Agency shares in August compared to July, decreasing from 57 lakh to 30 lakh. The total value of these shares in August amounted to Rs 72 crore.

The Economic Times

Indian Oil Corp. shares drop 0.75% as Sensex rises

A total of 172,386 shares changed hands on the counter till 01:08PM (IST)

Mint

Indian Oil Corporation share are down by -0.76%, Nifty up by 0.07%

Indian Oil Corporation Share Price Today : On the last trading day, Indian Oil Corporation's stock opened at ₹171.75 and closed at ₹170.50. The stock reached a high of ₹171.95 and a low of ₹170.10 during the day.

The Economic Times

Share price of Indian Oil Corp. falls as Nifty strengthens

A total of 224,836 shares changed hands on the counter till 01:18PM (IST).

Mint

Indian Oil Corporation share are down by -0.38%, Nifty up by 0.16%

Indian Oil Corporation Share Price Today : On the last trading day, Indian Oil Corporation's stock opened at ₹173.6 and closed at ₹172.5. The stock reached a high of ₹174.1 and a low of ₹172.3 during the day.

Business Line

Stock Market Live Updates September 16, 2024: Sensex, Nifty brace for US Fed’s rate cut, key economic data releases

Sensex, Nifty, Share Prices LIVE: The Indian stock market’s outlook this week will be heavily influenced by the US Federal Reserve’s interest rate decision, set to be announced after the Federal Open Market Committee (FOMC) meeting on September 18, analysts say. A widely anticipated 25 basis points (bps) rate cut and possibly a larger 50 bps reduction could trigger positive market sentiment, especially in emerging markets like India. Last week saw a stellar performance, with Nifty and Sensex hitting all-time highs, driven by sustained foreign institutional investor (FII) inflows. Analysts attribute this to expectations of lower US yields and a weaker dollar. Key global events, including Japan’s inflation data, the Bank of Japan’s policy decision, and domestic data such as WPI inflation, will further shape market trends. With geopolitical concerns and oil prices in focus, this week is pivotal for Indian equities, particularly in light of FII flows and global macroeconomic developments.

Business Standard

ONGC gets director to spearhead new energy, petrochem business & strategy

Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...

Business Standard

Nayara Energy sees 14.3% rise in domestic fuel sales, exports drop

Nayara Energy, India's largest private fuel retailer, posted a 14.3 per cent rise in fuel sales for the second quarter of the 2024 calendar year, while exports dropped as the firm met rising local demand for fuel. In the April-June quarter, Nayara sold 75 per cent of all diesel it produced at its Vadinar oil refinery in Gujarat in the local Indian market and 60 per cent of its petrol production locally, Nayara said. Over the past few years, Nayara Energy has steadily built its domestic business while expanding its fuel retailing network strategically to underserved markets that uphold the potential to fuel India's growth. Retail diesel sales rose 14 per cent to 2.08 million tonnes in April-June from 1.82 million tonnes a year back, while institutional business' year-on-year growth was 23 per cent, Nayara said. Similarly, retail petrol sales grew 14.7 per cent to 0.916 million tonnes in the second quarter compared to 0.809 million tonnes a year back. Nayara Energy owns the largest

The Economic Times

Biocon Biologics is planning to raise $950 million through overseas bonds

Biocon Biologics plans to raise $950 million through overseas bond sales to refinance a significant portion of its $1.2-billion debt from acquiring Viatris Inc.'s biosimilars business. The company has already prepaid $250 million and is exploring ways to reduce finance costs. The bond's rating will determine its pricing.

The Economic Times

Indian Oil Corp. rises 1.15% as Sensex slides

The stock traded at a P/E multiple of 8.04, while the price-to-book value ratio stood at 1.26.

Mint

Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 13

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — SAIL, IOC, and Container Corporation of India

Business Standard

Indian Oil to provide scholarships, medical insurance to para athletes

Public Sector Undertaking (PSU), Indian Oil Corporation on Thursday promised to provide monthly scholarships and medical insurance to the country's para athletes after their stupendous show at the just-concluded Paris Paralympics. The Indian contingent made history by securing 29 medals, including seven gold, nine silver and 13 bronze, marking the nation's best-ever performance at the Paralympics in Paris. Pankaj Jain, secretary, Ministry of Petroleum and Natural Gas, expressed his admiration for the para athletes and announced that Indian Oil will be further enhancing its support by introducing monthly scholarships, medical insurance, and sports kits for para athletes. "This historic performance is a testament to the resilience and determination of our para athletes," V Satish Kumar, Chairman and Director (Marketing), IndianOil, said during a felicitation function here on Thursday. "IndianOil is proud to have supported them on this incredible journey, and we remain committed to ..

Business Standard

Need innovation-driven value creation in biotech: Kiran Mazumdar-Shaw

Biocon Chairperson Kiran Mazumdar-Shaw on Thursday called for more investment in research and development to drive innovation and foster culture of intellectual property. She highlighted how the country, already the world's largest exporter of generics and a major player in vaccine production, can achieve greater value by nurturing innovation. Mazumdar-Shaw called for a shift in focus toward value creation through innovation. "India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and foster a culture of intellectual property to capture greater value," she said. Addressing a session during the Global Bio-India 2024 event, she positioned the country as a future global leader in biosciences and innovation. Mazumdar-Shaw emphasized India's unique advantages in becoming a global bio-innovation hub, citing the nation's rich scientific talent, robust technological capabilities, and entrepreneurial drive. "Biology is not only the most exciting and ...

The Economic Times

Kiran Mazumdar-Shaw calls for innovation-driven value creation in India's biotech sector

Biocon Chairperson Kiran Mazumdar-Shaw urges increased investment in research and development to drive innovation and intellectual property culture. Speaking at Global Bio-India 2024, she highlights India's potential as a global bio-innovation hub, emphasizing its scientific talent and technological capabilities. She also underscores the importance of biotechnology in healthcare and agriculture.

CNBC TV18

'I’ve built this business to last, not for sale', says Biocon's Kiran Mazumdar-Shaw on sellout rumours

Kiran Mazumdar-Shaw has reaffirmed that Biocon is not for sale, despite market rumours. The company is focusing on reducing debt, expanding into biosimilars, and capitalising on global opportunities, including the US Bio Secure Act.

The Economic Times

Vedanta plans to expand nickel sulphate production, to tap overseas demand

Vedanta, an Indian metals-to-oil conglomerate, plans to increase its nickel and nickel sulphate production to meet the rising demand for EV battery materials in northeast Asia. The company has urged India's government to push Japan and South Korea to remove import duties on nickel sulphate. Vedanta aims to contribute to India's export targets and support cleaner technologies in transport.

The Economic Times

Abu Dhabi gives onshore block production license to India's IOC-BPCL JV

Abu Dhabi has granted oil and gas production rights for an onshore block to a joint venture of Indian state-run refiners Bharat Petroleum Corp Ltd and Indian Oil Corp. The rights were awarded to Urja Bharat Pte Ltd, following successful exploration efforts in Onshore Block 1 since 2019.

Business Standard

BPCL's joint venture with IOC wins production concession in Abu Dhabi

BPCL added that during the exploration phase, the company invested nearly $164 million

Business Standard

INR ends on flat note; US inflation eyed

The Indian rupee witnessed range-bound trade and settled for the day on a flat note at 83.98 (provisional) against US dollar on Wednesday as the support from the lower level of crude oil prices and soft US dollar was negated by a weak trend in domestic equities. The benchmark 30-share Sensex dropped 398.13 points, or 0.49 percent, to 81,523.16 while the broader NSE Nifty index ended at 24,918.45, down 122.65 points, or 0.49 percent, from its previous close. A significant correction in asset classes like the dollar index and crude oil prices supported the rupee, while a negative trend in domestic equities and concerns over global economic growth capped the upside. At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency and touched an intraday high of 83.93 and a low of 83.98 against the American currency.

The Economic Times

India 10-year bond yield near 30-month low as US peers, oil prices fall

Indian government bond yields ended lower on Wednesday, with the 10-year yield touching a near 30-month low, tracking a sharp fall in U.S. peers and oil prices.

Business Standard

Sensex slips 398 pts, Nifty ends below 24,950; Tata Motors slumps 6%

The domestic equity market took a significant hit on Wednesday, with the Nifty50 closing below 24,950. The early-afternoon high of 25,113 was short-lived as sectors like oil & gas, PSU banks, and metals faced selling pressure. Investors are closely watching upcoming inflation data from the US and India. While US inflation is anticipated to increase, Indian inflation is expected to remain steady. Additionally, the Bank of Japan's suggestion of a potential rate hike if inflation stays elevated added to the market's cautious tone.

Business Line

Market inches up as Auto, Finance stocks lead gains

The oil and gas sector faced significant pressure, with OIL down 4.67 per cent, ONGC declining 2.93 per cent, IOC falling 1.93 per cent, and Mahanagar Gas slipping 1.82 per cent

The Economic Times

Indian Oil Corp. shares down 2.02% as Nifty gains

The stock quoted a 52-week high price of Rs 196.8 and low of Rs 85.51.

Mint

Indian Oil Corporation share are down by -1.31%, Nifty up by 0.17%

Indian Oil Corporation Share Price Today : On the last trading day, Indian Oil Corporation's stock opened at ₹176.65 and closed at ₹173.25. The stock reached a high of ₹177.80 and a low of ₹173.25 during the trading session.

CNBC TV18

Marketbuzz Podcast with Kanishka Sarkar: Market headed for muted start, US prez debate, crude price in focus

Marketbuzz Podcast: The Indian market is likely to start the day on a flat to negative note amid mixed global cues, with stocks like Reliance, IREDA, and Oil India among others in focus. Tune in to the podcast for more cues

The Economic Times

Russia's search for new crude markets helps India cut its oil import bill, but...

Russia's search for new markets post-Ukraine war has led to cheaper crude for Indian refiners but hurt diesel exports to Europe. Increased competition from US supplies and Red Sea tensions have impacted India's diesel export volumes and margins, despite the benefits of discounted Russian crude.

Business Standard

Oil India signs MoU for global cooperation in critical mineral supply chain

A Memorandum of Understanding (MoU) was signed between Indian entities comprising of Oil India, OVL & KABIL and International Resources Holding RSC Ltd. (IRH), UAE on 10 September 2024 for global cooperation in Critical Mineral supply chain primarily with the objective of collaboration, identification, acquisition, and development of Critical Mineral projects on a global scale, including India.

Business Standard

INR settles slightly lower as dollar gains ahead of US inflation report

The Indian rupee traded in a narrow range on Tuesday and depreciated 2 paise to close at 83.97 (provisional) against the American currency, weighed down by the strengthening of the American currency in the overseas market. The US dollar climbed higher to a near one-week high as all eyes turn to a key US inflation data this week that could offer clues on the magnitude of an expected interest rate cut from the Federal Reserve later this month.. The slight recovery in crude oil prices also weighed on the rupee. However, a surge in the domestic markets cushioned the downside. The benchmark S&P/BSE Sensex rose 361.75 points, or 0.44 percent, to 81,921.29 while the broader NSE Nifty index closed at 25,041.10, up 104.70 points, or 0.42 percent, from its previous close. At the interbank foreign exchange market, the local unit opened at 83.95 against the American currency and finally settled at 83.97 (provisional) against the US dollar, down 2 paise from its previous close.

The Economic Times

Technical Breakout Stocks: How to trade FDC, Glenmark Pharma and Honasa Consumer on Wednesday?

On Tuesday, Indian markets rose for the second consecutive day, with the S&P BSE Sensex up over 360 points and Nifty50 above 25,000. Gains were noted in capital goods, healthcare, IT, power, and telecom, while energy and oil & gas stocks saw declines.

The Economic Times

ADNOC to supply Indian Oil with LNG for 15 years

The Abu Dhabi National Oil Company has signed a 15-year agreement to supply Indian Oil with 1 million metric tons of liquefied natural gas annually. The LNG will primarily come from ADNOC's Ruwais project, which is set to start production in late 2028 and will significantly increase the company's LNG capacity.