Market News

Prozeal Plans To Launch Rs 700-Crore IPO In Q2; Bags Rs 2,000-Crore Contract From ONGC

This project will further strengthen Prozeal's position in India's renewable energy ecosystem.

Explained - Why have ONGC, Oil India been under pressure and what lies ahead

The new effective royalty rate of 13.33% on crude production from onshore fields, which is higher than the 10% announced on May 8. The new rate is still lower than the 16.67% rate applicable before. That is one of the reasons behind the sell-off in both ONGC and Oil India.

India fertilizer offers sink in sign of easing supply strain

India's urea import prices have dropped sharply, less than half of April's rates. This indicates global fertilizer supply issues are easing. The country is securing large quantities of urea for its monsoon sowing season. However, India is also increasing its spot purchases of liquefied natural gas for domestic urea production, facing higher costs for this vital feedstock.

ONGC Share Price Live Updates: ONGC Trading Overview

Crude oil prices rally after Iran closes Strait of Hormuz following US strikes; Brent oil near $95 a barrel

Concerns over a potential blockade of the Strait of Hormuz — a key maritime route that facilitates nearly one-fifth of global oil and gas shipments — have kept crude oil prices elevated.

India, UAE move to expand strategic crude reserves; Abu Dhabi-linked oil storage may rise to 30 mln barrels

India and the UAE are boosting energy security. Plans are underway to significantly expand India's strategic oil reserves with UAE-linked crude storage. New facilities will increase capacity from 5.8 million barrels to 30 million barrels. Both nations are also establishing a framework for strategic gas reserves. This initiative aims to provide greater flexibility and ensure stable energy supplies for India.

Ruchit Jain of Motilal Oswal suggests Grasim, Bank of Maharashtra shares to buy for the short term

Indian equity benchmarks rose on Wednesday, driven by gains in FMCG, oil & gas, financial, and IT stocks, despite geopolitical tensions. The Nifty 50 increased by 0.5% and the BSE Sensex by 0.7%, indicating a strong market sentiment amidst consolidation and support at key levels.

Oil & Natural Gas Corpn Ltd eases for fifth straight session

Oil & Natural Gas Corpn Ltd is quoting at Rs 254.8, down 1.62% on the day as on 13:19 IST on the NSE. The stock jumped 3.02% in last one year as compared to a 6.94% slide in NIFTY and a 7.63% spurt in the Nifty Energy index.

Hindustan Oil Exploration temporarily halts gas sales from B-80 field

Hindustan Oil Exploration Company announced that Gas sales from B-80 field has been stopped for asset integrity related maintenance. These preventive and corrective measures are being carried out to ensure the continued safe, reliable, and efficient operation of the facilities, in line with applicable safety standards and operational best practices. Oil sales continue at lower rates.

Oil India Share Price Falls After Morgan Stanley Downgrades Stock To Underweight — Check Target Price

Morgan Stanley cuts Oil India target to Rs 404 from Rs 566, warning of diesel surplus, weak gas prices and a production outlook set to disappoint

Meta deal, 49th AGM, stock at 52-week low: Why are analysts bullish on RIL?

Foray into green energy, data centres and reducing dependence on the oil & gas business augur well for Reliance Industries, says G Chokkalingam founder of Equinomics Research.

Explained - Why Morgan Stanley bets on ONGC but downgrades its peer Oil India

Morgan Stanley reiterated its preference for ONGC over Oil India, citing ONGC's superior reserve replacement ratio, higher natural gas price realisations and faster monetisation of reserves.