Market News
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CNG momentum to stay robust through FY27, Morbi PNG demand set for all-time high
CNG vehicle registrations and industrial gas utilization are poised for remarkable growth. With CNG vehicles presenting significant cost benefits over electric and petrol options, the future looks bright. Gujarat Gas is gearing up for heightened LNG blending to satisfy the soaring demand in Morbi, where industries favor PNG(I) for dependable supply.
Reliance, Meta announce Jamnagar data centre; CleanMax to supply over 900 MW renewable energy capacity
Meta Platforms is investing heavily in India's digital future. The company is partnering with Reliance Industries to build a new data center in Gujarat. This facility will support Meta's global AI needs. Additionally, Meta is expanding its renewable energy partnership with CleanMax. This collaboration will add over 900 MW of solar and wind power capacity.
Oil India reports natural gas presence in second Andaman offshore well
Oil India Limited has found natural gas in its third exploratory well in the Andaman offshore block. This is the second well in the block to confirm hydrocarbon presence. The discovery is a positive indicator for future exploration in the area. OIL is currently processing seismic data for further appraisal well drilling.
INR depreciates further to one-week low as oil stays elevated amid Middle East turmoil
The Indian rupee depreciated further in opening trades on Wednesday as oil prices stay elevated, driving fears of inflationary pressures in future. INR opened at Rs 95.43 per dollar and hit a low of 95.65 so far during the day. Yesterday, rupee fell 15 paise to close at 95.34 against the US dollar, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. Local equities continue to stay strained in early trades with BSE Sensex trading at 73,866.45, down by 783.39 points and NSE Nifty 50 trading at 23,247.90, down by 235.65 points.
India's paint industry remains optimistic on growth despite crude volatility, pricing pressures and competition
India's paint industry is experiencing a demand surge in both cities and villages. Leading companies anticipate strong volume growth in FY27. Manufacturers are implementing calculated price increases to manage rising input costs. Geopolitical factors and currency fluctuations remain key concerns. Companies are closely monitoring crude oil prices and forex for future strategies.
Mining turns India's heat-shield hills to dust
Dizzyingly deep pits from large-scale mining scar India's ancient Aravalli mountains, threatening the future of a forested buffer that New Delhi relies on for protection from furnace-hot desert winds. "If we don't protect the Aravalli, the northern Gangetic plains -- which is a food basket for the rest of the country -- would become a desert," he said.
Crude oil prices slide 19% in May, post worst monthly fall since 2020; Will US-Iran peace deal deepen losses?
Crude oil prices fell on 29 May after tentative US-Iran ceasefire talks raised hopes for smoother oil flows. Brent crude dropped nearly 19% in May, while WTI hovered around $87. Ongoing discussions may impact future prices amid geopolitical uncertainties.
US stock market today: Dow Jones, Nasdaq slip as Middle East tensions intensify; Brent crude rebounds
US stock futures pointed to a weak opening as tensions in West Asia raised crude oil prices, heightening inflation concerns. S&P 500 futures fell 0.3%, while Nasdaq and Dow futures also declined. Investors await PCE data for insights on future Fed policy amid ongoing geopolitical conflicts.
Reliance operationalises clean energy giga complex; elevates national exchequer contribution to Rs 2,16,472 crore in FY26
Reliance Industries has launched its clean energy operations. The company commissioned solar module manufacturing and began advanced work on a battery storage giga-factory. Reliance also significantly increased its contributions to the national exchequer. Jio Platforms accelerated its research and development, filing numerous new patents. The company is focused on enabling India's energy and digital future.
RIL announces AGM date on June 19; updates on Jio IPO in focus
Reliance Industries Ltd will hold its 49th annual general meeting on June 19, 2026. The company reported strong revenue and growth in its consumer businesses for the fiscal year. Investors anticipate updates on Reliance Jio IPO and new energy ventures. The meeting will cover the company's future investment plans and retail expansion.
ONGC bets on gas-led growth as premium pricing boosts profitability
ONGC anticipates natural gas will drive its future growth and profitability. New high-priced gas production is set to increase significantly, meeting rising domestic demand. Projects like Daman and KG-98/2 are expected to boost gas output. ONGC is also expanding its renewable energy portfolio and seeking cost savings. The company is strategically shifting towards gas.
Global power equations to shift further towards energy, critical minerals: Former Vedanta Group CEO
Global power is shifting towards energy security and resource control. Geopolitical tensions are reshaping industrial supply chains. Critical minerals are becoming as vital as oil was. Countries controlling these resources will gain leverage. India must accelerate domestic exploration and build processing ecosystems. Future economic strength depends on securing energy and critical minerals.