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Fuel prices to be reviewed based on crude oil supply, says Union Minister Suresh Gopi
Union Minister of State for Petroleum and Natural Gas Suresh Gopi said the government will review fuel prices based on the availability of crude oil supplies. His remarks come amid recent increases in petrol, diesel and LPG prices following supply disruptions caused by the ongoing conflict in West Asia. He said Petroleum Minister Hardeep Singh Puri would take a call after assessing the situation.
INR surges amid sharp pull back in oil prices; Sensex and Nifty jump by around 2%
The Indian rupee surged 67 paise to close at 95.18 (provisional) against the greenback on Friday as global oil prices fell sharply after US President Donald Trump indicated an imminent deal with Iran. A firm trend in domestic equity markets and a weaker American currency also supported the rupee during the day. Indian shares closed Friday's session on a buoyant note in a broad-based rally, with both frontline and broader market indexes posting sharp gains. The BSE Sensex settled at 75,527.95, surging 1,695.40 points (2.30%), and the NSE Nifty50 ended at 23,622.90, climbing 461.30 points (1.99%). Trump has reportedly said a deal to end the war with Iran is nearly complete, and is expected to be signed over the weekend in Europe, as he called off military strikes on the Islamic Republic hours after threatening to take control of its oil industry.
Explained - How falling crude oil prices can benefit commercial vehicle makers and lenders
Industry observers note that the impact on commercial vehicle demand will come with a lag of one to two quarters, as fleet operators will first take the benefit from lower fuel costs before expanding capacity or replacing vehicles.
BPCL, HPCL, IOCL shares rally up to 4% as oil prices hit two-month low. What are experts saying?
Indian oil marketing stocks surged as crude oil prices dropped to a two-month low amid reports of a potential US-Iran peace deal. HPCL, IOCL, and BPCL shares gained significantly on Friday. Experts, however, caution that full oil market normalization could take years even if a deal is reached.
Trump Vows To Take Over Kharg, Assert Control On Iran's Oil Market; Crude Rates Jump
Crude oil rates jumped after Trump's announcement with Brent crude futures trading 0.14% higher at $93 per barrel and West Texas Intermediate rising 0.72% to $90.6 per barrel.
Ambani-backed robot startup seeks $100 million to take on China
Reliance-backed robotics startup Addverb Technologies is looking to raise over $100 million to fund expansion into humanoid robots, AI and advanced automation. The company, which generates half its revenue overseas, targets a spot among the world's top 10 robotics firms within five years.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty trades lower; Jefferies initiates 'buy' for Meesho
Sensex Today | Stock Market LIVE Updates: The Nifty though, dragged by HDFC Bank and IT on Tuesday, would be hopeful that both put their hand up and enable a breakout for the index as well. A factor that bulls will take heart from is that Reliance Industries snapped a nine-day losing streak on Tuesday and if that rebounds from lower levels, it will be a big boost to the index.
ADNOC trading chief Philippe Khoury flags August as tipping point for oil prices if Iran war supply crisis persists
Oil prices may surge significantly in August claimed ADNOC's chief. This could happen if demand increases and the Iran war supply issues continue. Experts suggest it might take a year for supply chains to fully recover. Transit through the Strait of Hormuz will remain affected as long as peace remains uncertain.
Government revises windfall tax on fuel exports from June 1
New windfall tax rates on fuel exports take effect from June 1, 2026. Taxes are back on diesel and aviation turbine fuel after a period of nil levies. Petrol exports will also attract a duty. These revisions reflect changes in global oil prices and refiner margins. The government reviews these rates fortnightly.
MSCI adjustments take place today - Here are the stocks poised for significant flows
Stocks ranging from Bajaj Finance, Hindustan Unilever, TCS, Infosys, UltraTech, ONGC, Hindustan Aeronautics, Coal India, Mahindra & Mahindra, and Nestle India will see a decline in their weightage, with outflows ranging from $103 million to as high as $204 million.
Mukesh Ambani draws zero salary again: India's richest man forgoes paycheck for 6th straight year
Reliance Industries Chairman Mukesh Ambani did not take any salary in FY26, continuing a six-year trend. Reliance reported strong annual revenue growth despite profit decline in Q4, while Ambani’s children and senior executives received commissions and remuneration.
ONGC yet to take control of Cambay Block as Vedanta challenges govt move
ONGC has not yet taken control of the Cambay basin block CB-OS-02. Vedanta is challenging the government's decision to reject the contract extension. The Delhi High Court has ordered parties to maintain the status quo. Vedanta continues to operate the block pending the court's decision. ONGC remains ready to assume operations.