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Steel companies seek government intervention as coated steel units stare at propane shortage
Propane gas is used to provide the steady heating required to melt zinc during the coating process, ensuring a smooth and corrosion-resistant finish. It is a byproduct of natural gas processing and petroleum refining.
Gujarat hikes LPG supply by 20 per cent; prioritises PNG connections
Gujarat is boosting LPG supplies by 20 percent to ensure uninterrupted availability. The state is also prioritizing Piped Natural Gas connections for hotels and restaurants where networks exist. Essential sectors like hospitals and educational institutions are receiving full LPG stock. This proactive approach aims to maintain smooth fuel distribution across all sectors.
Mounting gas shortages disrupt some steel plants at JSW, one unit may face shutdown
India's steel sector faces a severe gas crisis. JSW Group operations are disrupted, with one unit nearing a potential shutdown. This follows Middle East conflict affecting supply routes. The Indian Steel Association warns of a huge adverse impact on small and medium enterprises. The government has invoked emergency measures to restrict natural gas use.
ONGC Share Price Highlights: ONGC Stock Price History
Adani Total gas share price crashes over 12% in 2 sessions; here's why
Adani Total Gas shares fell over 12% in two sessions as investors booked profits after a 30% rally. The company cut excess natural gas prices amid supply disruptions due to geopolitical tensions, prioritizing essential gas supply for households and transport.
India’s banks, NBFCs to face rising credit costs, liquidity strain if conflict drags: Report
India's financial sector faces challenges if the Middle East conflict continues. Banks and lenders will see higher costs and less liquidity. Borrowers, both companies and individuals, will feel the strain. Oil and gas supply disruptions will impact industries. The rupee may weaken. Despite these pressures, India's overall economic conditions are expected to remain stable.
Stocks to Watch for March 16: IndiGo, Jindal Stainless, GMR Airports, Voltas and more
Jindal Stainless faces disruptions from West Asia war. SEAMEC Ltd wins ₹410.74 crore ONGC contract. GMR Airports to upgrade Cargo Terminal-1 at Indira Gandhi Airport. Here are few stocks to keep an eye on ahead of Monday's trading session.
West Asia crisis hits stainless steel production; LPG shortages and logistics disruptions raise costs
The West Asia crisis and LPG shortages in India are affecting the domestic stainless steel industry, forcing companies to cut production and brace for higher costs. Manufacturers rely heavily on LPG and natural gas for key processes, and fuel constraints have led some plants to operate at reduced capacity.
Fuel Shortages From War Begin To Threaten Global Food Supply
Two weeks into the US-Israeli war with Iran, flows of crude oil, liquefied natural gas and fertilizer have been choked by attacks on energy infrastructure across the Middle East.
Govt warns LPG hoarders of action; urges users to switch to piped cooking gas
Amidst panic bookings due to the West Asia war, the government assures uninterrupted cooking gas supply to households. Around 60 lakh households near piped natural gas networks are advised to switch for convenience. Hoarders and black marketers face strict action as domestic production rises and commercial supplies are prioritized by states.
SEAMEC consortium wins ₹411-cr ONGC contract for servicing MSV Samudra Sevak
The contract secured by the consortium comprising SEAMEC Ltd and Supreme Hydro Private Ltd is to operate and maintain the ONGC-owned multipurpose support vessel Samudra Sevak. Shares of SEAMEC Ltd ended at ₹1,331.90, down by ₹3.35, or 0.25%, on the BSE today, March 13.
Jindal Stainless says West Asia war has hit operations, plants running at rationalised capacity
The company said stainless steel manufacturing depends heavily on industrial gases such as propane/LPG and natural gas, and several processes across its plants have been adversely affected. Shares of Jindal Stainless Ltd ended at ₹708.15, down by ₹38.30, or 5.13%, on the BSE today, March 13.