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Government reviews households with dual LPG, PNG connections
The government is identifying households with both LPG and PNG connections. This move aims to stop dual ownership and prevent subsidy misuse. Households with piped natural gas connections must now surrender their domestic LPG connections. This policy is being enforced to improve LPG supply for those without piped gas. Over 43,000 LPG connections have been surrendered so far.
Vedanta's 65% share price crash an illusion, the stock is down just 5%. Here's why
Vedanta shares adjusted significantly post-demerger, appearing to crash but actually declining 5% as four entities (Aluminium, Power, Oil & Gas, Steel) were separated. This restructuring aims to unlock shareholder value by allowing independent businesses to be valued more fairly. The demerger, approved by NCLT, sees the base metals business remain with a restructured Vedanta, while new entities will list separately.
Petrol, diesel price hike? Government denies viral claim, terms it as fake
Government has denied reports of increased petrol and diesel prices. A viral social media post claiming price hikes is fake. The Ministry of Petroleum and Natural Gas has issued no such order. Citizens are urged to rely on official government sources for accurate fuel pricing information. Avoid sharing unverified content to prevent confusion and panic.
Oil firms selling petrol at Rs 14 a litre loss, diesel at Rs 18
Indian oil companies face substantial losses on petrol and diesel sales. Elevated crude oil prices are squeezing marketing margins. Cooking gas LPG is projected to incur an Rs 80,000 crore under-recovery this fiscal. Fertiliser subsidies are also set to rise significantly. These pressures impact profitability across various sectors, with relief contingent on easing global tensions and supply chain normalisation.
LPG under-recoveries may hit Rs 80,000 crore in FY2027 amid West Asia disruptions: ICRA
Indian oil companies face significant financial strain. LPG under-recoveries may reach Rs 80,000 crore by FY2027. Supply disruptions and high global prices impact profitability. Fertiliser costs are rising sharply, requiring increased government subsidy. Chemical and gas sectors also see margin pressures. Elevated costs will affect downstream sectors in FY2027.
ONGC among 7 stocks flashing bullish signals, hinting at a possible uptrend
Seven stocks from the Nifty 500 universe appeared in the White Marubozu bullish scan on April 28, signalling strong buying interest during the session. The pattern reflects sustained upward momentum, positive sentiment, and potential continuation of the trend, offering near-term opportunities in stocks exhibiting strong bullish price action.
Shell agrees to buy Canada’s Arc Resources for $13.6 billion
Shell Plc buys ARC Resources for $13.6 billion, expanding Canadian oil and gas output and boosting investor returns with a premium share and cash deal.
A case to raise petrol, diesel prices by Rs 25–28 per litre after Bengal, Tamil Nadu elections: Kotak Institutional Equities
Fuel prices in India may rise significantly after April 29. Global crude oil costs are high, causing losses for Indian refiners. Kotak Institutional Equities predicts a potential increase of Rs 25-28 per litre over time. However, the Ministry of Petroleum and Natural Gas has clarified that there is no such proposal to hike fuel prices by the government.
HSBC downgrades India for the second time in a month, explains 'underweight' stance
HSBC said that its oil and gas analyst expects the physical market to remain acutely tight during the second and third quarter of this calendar year, thereby anticipating oil prices to remain elevated in the months to come.
Natural Gas Trend Challenges Oversupply Narrative in US Market - Investing.com India
Natural Gas Trend Challenges Oversupply Narrative in US MarketInvesting.com India
Government revises aviation turbine fuel norms under new order
Aviation fuel regulations in India have been updated by the Ministry of Petroleum and Natural Gas. The Aviation Turbine Fuel (Regulation of Marketing) Amendment Order, 2026, refines the fuel's definition to include synthetic hydrocarbon blends and removes outdated company references. Crucially, search and seizure powers now align with the Bharatiya Nagarik Suraksha Sanhita, 2023, enhancing enforcement.
Closing Bell | Markets snap three-day rally as IT stocks sink; midcaps hold firm
Closing bell: Benchmark indices snapped a three-day rally with Nifty slipping below 24,400 as IT stocks dropped sharply. Broader markets held firm, with midcaps and smallcaps gaining, while FMCG, metals and oil & gas offered some support.