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One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz
Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to maintain pre-war export levels, capitalizing on surging oil prices and creating immense profits for Sinokor and its partners.
Kirloskar Oil Engines Rallies 7% As Jefferies Initiates Coverage At 'Buy' — Check Target Price, Outlook
Jefferies sees a 21% upside for Kirloskar Oil Engines setting the target price at Rs 2,815. The brokerage has cites market share gains in high-horsepower gensets and a fresh data centre order for the bullish call.
Nifty, Sensex Edge Higher as Lower Oil Prices Offset Rupee Weakness - Investing.com India
Nifty, Sensex Edge Higher as Lower Oil Prices Offset Rupee WeaknessInvesting.com India
After E20 petrol, India eyes 15% isobutanol blend in diesel: Nitin Gadkari
India plans 15% isobutanol blending in diesel, says Nitin Gadkari. This aims to cut fossil fuel imports and boost energy self-reliance.
Here's how the five Vedanta Group stocks are reacting to their Q1 business updates
Shares of Vedanta Ltd. ended 1.6% higher on Friday at ₹280.5. Shares of the Aluminium division ended at the flat line, while those of the Iron & Steel business, after being locked in a 5% upper circuit earlier in the day, ended 5% lower. The Oil and Gas business saw its shares fall over 4% as well, and the Power business shares fell over 6%.
Iran exploring oil sales to Japan, buyers seek longer sanctions waiver, sources say
Iran is currently in discussions with Japanese companies regarding the potential resumption of oil sales, backed by a U.S. sanctions waiver that expires on August 21. Purchasers are advocating for a longer waiver and enhanced protections for shipping, following troubling occurrences in the Strait of Hormuz. Initial conversations are taking place, yet obtaining insurance remains a critical issue for Japanese refineries.
ONGC Share Price Live Updates: ONGC Market Volume Snapshot
Coal India Share Price Live Updates: Coal India Trading Volume Analysis
Indian banks slash short-term debt sales on cheaper forex funding
Indian banks are significantly reducing their reliance on short-term debt sales, known as certificates of deposit (CDs). This shift is driven by the Reserve Bank of India's initiative to attract foreign-currency deposits, offering a cheaper and more stable funding alternative. Lenders anticipate this trend to continue, impacting CD rates and strengthening their balance sheets with more durable capital.
Stocks to Watch today: HDFC Bank, Coal India, Tata Steel, Sobha, BoB, Nykaa
Stocks to watch today: HDFC Bank, Coal India, Tata Steel, Sobha Ltd, Bank of Baroda, Radico Khaitan, Senco Gold, Fortis Healthcare, IndusInd Bank, Dabur, among others, will be in focus today.
Oil prices decline as OPEC+ approves higher output targets; Brent above $70 per barrel
US-Iran war: Brent crude futures slipped 24 cents, or 0.33%, to $71.88 a barrel, after ending 0.45% higher on Friday.
Oil prices slip after Opec+ agrees to raise August output targets
Brent crude falls below $72 a barrel, while US WTI slips to around $68.6 as recovering Strait of Hormuz exports ease supply concerns