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Citi cuts Nifty's target to 27,000 on earnings, macro risks from raging Iran war
Citi Research has lowered its year-end Nifty 50 target to 27,000, citing escalating Middle East war risks impacting India's growth and corporate earnings. Surging oil and supply shocks are worsening the economic outlook, with potential disruptions to LPG, LNG, fertilizers, and petrochemicals. The brokerage also downgraded the auto sector to 'neutral' due to price spikes and potential semiconductor issues.
Reliance Industries to divert natgas to priority sectors, hike LPG production
The company said it was maximising LPG output from its refining and petrochemicals complexes at Jamnagar Refinery - the world's largest integrated refining hub - to maintain stable domestic supplies.
MRPL says fuel operations uninterrupted, no force majeure declared amid Iran conflict
The clarification comes after CNBC-TV18 suggested that disruptions in crude flows in West Asia were affecting MRPL’s fuel exports. Shares of Mangalore Refinery and Petrochemicals Ltd ended at ₹196.35, up by ₹5.15, or 2.69%, on the BSE today, March 5.
Mangalore Refinery and Petrochemicals declares force majeure on gasoline export cargoes for March, April
India's Mangalore Refinery and Petrochemicals has declared force majeure on all gasoline export cargoes for March and April due to the ongoing Middle East conflict disrupting crude oil flows. The state-run refiner, which exports 40% of its refined fuel, cited circumstances beyond its control for the contractual inability to fulfill orders.
MRPL declares ₹4 interim dividend for FY26; sets March 11 as record date
On Monday (March 2), shares of Mangalore Refinery and Petrochemicals Limited ended at ₹187.95, down by ₹8.70, or 4.42%, on the BSE.
GAIL shares have multiple worries ahead, Kotak warns projecting 14% downside
Kotak said that if GAIL were to shut down its cash loss-making petrochemicals business, marketing earnings could weaken further.