Market News
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Oil tops $100 amid Iran-Israel tensions; Asian Paints, IndiGo and other crude-sensitive stocks fall up to 4%
Crude oil prices surged past $100 per barrel due to escalating Middle East tensions. This development impacted shares of paint, tyre, and airline companies, with significant drops observed. Iran's actions, including attacks on tankers and fuel facilities, have heightened concerns about regional security and oil supply.
US announces release of 172 million barrels of oil from Strategic Petroleum Reserve
US gasoline prices have risen to nearly $3.6 per gallon on average due to supply shortage, as per motorist group AAA. The retail prices are nearly 22% higher than the same period last month.
No shortage of LPG cylinders in Northeast India, production to go on uninterrupted: Indian Oil Corp
Indian Oil Corporation confirms ample LPG supplies for Northeast India. The company's bottling plants operate at full capacity, meeting regional demand. Government directives prioritize household cooking gas. Refineries are maximizing LPG output. Commercial supplies are restricted to essential services. These measures ensure uninterrupted fuel availability for homes and transport.
Iran Israel War: Two LNG cargoes headed to India, 70% of imports bypass Strait of Hormuz
India's crude oil supply is firmly established and secure. Government representatives have assured that nearly 70% of our imports are funneled through various alternative routes, safeguarding us from turbulence in Gulf shipping lanes. With a daily consumption rate of 55 lakh barrels, the government is strategically acquiring crude oil and LNG through these routes.
Top Gainers & Losers on Mar 11: Apar Industries, Redington, Axis Bank, Finolex Cables, TVS Motor among top losers
The Indian stock market declined on March 11 due to heightened Middle East tensions, with the Nifty 50 down 1.63% and the BSE Sensex falling 1.72%. Most sectors were affected, especially auto and private banks, while pharma and oil & gas saw slight gains.
Silver rate today slips marginally on softer dollar, falling oil prices: Should you buy amid current volatility?
Silver rates declined on March 11 due to investor caution amid the US-Israel-Iran war, with gold benefiting from easing oil prices and a weaker dollar. Geopolitical tensions are disrupting oil supply, contributing to ongoing market volatility and uncertainty over future interest rates.
Stocks in news: Nazara Technologies, IndiGo, Hindustan Zinc, NTPC Green, RIL
Indian markets saw a strong rebound on Tuesday, recovering some losses. Global cues improved and crude oil price worries eased. Several companies are in focus today. Nazara Technologies saw a significant block deal. IndiGo's CEO stepped down. RIL is boosting LPG production. Vedanta calls for unlocking domestic resources. NTPC Green Energy added new solar capacity.
Why may IndiGo's parent InterGlobe Aviation shares have a gap-down opening on Wednesday? Explained
InterGlobe Aviation shares may open lower following CEO Pieter Elbers' resignation for personal reasons. Rahul Bhatia steps in as interim CEO. The company’s shares have lost 10% of their value since the start of the US-Iran war in February, which led to a massive rise in crude oil prices.
Hinduja Global Solutions shares jump 16% on UP MoU for Project GANGA
The State Transformation Commission of the Uttar Pradesh government signed an MoU with OneOTT Intertainment Ltd. (OIL), the broadband arm of Hinduja Global Solutions
IndiGo, SpiceJet shares rally up to 8% on easing oil prices
Notably, airline companies benefit from lower fuel prices, as aviation turbine fuel (ATF) accounts for a significant portion of their operating costs
Airline stocks soar as crude declines sharply
Shares of InterGlobe Aviation and SpiceJet advanced on Tuesday after crude oil prices slipped near the $90 per barrel mark.
HGS jumps as arm inks UP broadband deal to connect over 2 million homes
Hinduja Global Solutions (HGS) jumped 12.72% to Rs 391.70 after its broadband subsidiary, OneOTT Intertainment (OIL), signed an MoU with the State Transformation Commission to expand digital connectivity across Uttar Pradesh under Project GANGA.