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India eyes Venezuelan upstream & downstream energy sectors; Modi-Gomez explore partnership in critical minerals & mining too
India is seeking a long-term energy partnership with Venezuela. Prime Minister Narendra Modi held talks with Venezuela's acting President Delcy Eloina Rodriguez Gomez. Discussions covered crude oil supply diversification and cooperation in critical minerals. Both nations also explored expanding commercial ties in pharmaceuticals, agriculture, and transportation. A technical team from India will visit Venezuela soon to explore opportunities further.
Reliance Power Ltd soars 1.37%, up for third straight session
Reliance Power Ltd is quoting at Rs 27.45, up 1.37% on the day as on 12:49 IST on the NSE. The stock is down 54.92% in last one year as compared to a 5.46% gain in NIFTY and a 13.15% gain in the Nifty Energy index.
'India to pilot hydrogen buses, trucks on 10 roads; Reliance, Tata, NTPC among partners,' says Nitin Gadkari
India is launching a pilot project for hydrogen-powered buses and trucks on ten roads. Major companies like Reliance and Tata are partnering in this initiative. The country aims to become an energy exporter, moving beyond imports. This marks a significant step in India's energy transition, with flex-fuel vehicles also set for expansion.
Maruti unveils India's first flex-fuel car: What is a flex fuel vehicle? How does it work? Will it cut your fuel bill? Here's all
Maruti Suzuki has introduced India's first flex-fuel passenger car. This technology allows vehicles to run on petrol or petrol-ethanol blends. It is seen as a significant step towards reducing crude oil imports. The move also aims to lower carbon emissions and enhance India's energy security. This innovation could unlock substantial benefits for the country.
Maruti Suzuki launches India's first flex-fuel car, bets on biofuels to boost energy security
Maruti Suzuki has launched India's first flex-fuel passenger car, the Wagon R. This move aims to significantly cut crude oil imports and lower carbon emissions. The technology supports farmers and rural communities, linking agriculture with clean mobility. This initiative is a key step towards India's energy security and self-reliance. The company is committed to cleaner mobility solutions.
Asian shares fall after Wall Street retreat; oil eases from recent surge
Asian shares retreated on Thursday following declines on Wall Street that snapped a nine-day winning streak for the S&P 500. Oil prices fell back after surging Wednesday as renewed fighting threatened the US-Iran ceasefire. Early Thursday in Asia, Brent crude was USD 1.17 lower at USD 96.64 per barrel, while benchmark US crude oil shed USD 1.08 to USD 94.94 per barrel. Oil prices had climbed a day earlier after both the United States and Iran said they launched retaliations for earlier attacks or attempted ones. In share trading, Japan's Nikkei 225 shed 1.9% to 67,101.83 as traders sold technology stocks to lock in gains. Energy and technology giant SoftBank Group slumped 10.4%, while Shin-Etsu Chemical dropped 3.8%. Hong Kong's Hang Seng lost 1.3% to 25,299.29, and the Shanghai Composite index fell 0.4% to 4,067.46. In South Korea, the Kospi sank 1.7% to 8,651.87, while Australia's S&P/ASX 200 declined 1.5% to 8,657.40. On Wednesday, the S&P 500 fell 0.7% from its ...
Benchmarks pare steep losses; Sensex slides 304 points, Nifty ends below 23,450
The domestic equity benchmarks staged a sharp recovery from intraday lows on Wednesday as bargain hunting emerged after the morning selloff. The Nifty, which slipped to an intraday low of 23,151.50, rebounded nearly 250 points and climbed back above the 23,400 mark in late trade. Sentiment improved as investors accumulated beaten-down stocks. However, caution persisted amid uncertainty surrounding U.S.-Iran ceasefire negotiations, which kept global energy markets volatile and crude oil prices elevated. Despite the recovery, the index settled below the 23,450 level, weighed down by weakness in IT and FMCG stocks. Analysts said the Nifty remains technically weak, with immediate support seen at 23,300 and resistance at 23,600.
Oil India Ltd up for third consecutive session
Oil India Ltd is quoting at Rs 490.45, up 1.31% on the day as on 12:49 IST on the NSE. The stock is up 15.4% in last one year as compared to a 5.36% slide in NIFTY and a 12.24% slide in the Nifty Energy index.
Camelian's Vikas Khemani sees manufacturing as India's biggest long-term opportunity
Vikas Khemani, Founder of Carnelian Asset Management and Advisors, said market weakness caused by geopolitical tensions and higher oil prices is temporary and expects conditions to improve once energy concerns ease.
Oil may stay expensive even if West Asia tensions ease, pressure OMCs: ICICI Securities
Probal Sen, Oil and Gas Analyst at ICICI Securities believes global energy supply chains have structurally changed after the Middle East conflict. India is increasing crude imports from Venezuela, Russia, the US and Africa to manage shortages, but cheap crude is no longer available.
Oman beats Qatar as India’s top LNG supplier as war disrupts Gulf gas flows
In a significant turn of events, Oman has emerged as India's top source for liquefied natural gas, particularly following the upheaval caused by the Iran war that interrupted gas flow in the Gulf region. This strategic pivot took place in March, with Indian buyers seeking more stable energy alternatives.
BofA prefers oil producers over refiners as crude prices stay elevated
Bharat Subramanian, Senior Analyst (Energy) at BofA Global Research, expects oil marketing companies to report negative marketing margins during the current year.