Market News
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ONGC, bp sign technical services contract to boost production from Western Offshore Basin
ONGC and bp have inked a deal to boost oil and gas output from the Western Offshore Basin. This partnership leverages bp's global expertise to enhance production from India's most prolific hydrocarbon region. The agreement aims to curb production decline, improve recovery rates, and strengthen the nation's energy security, building on successful collaboration at Mumbai High.
Sunsol mulls over 2 GW solar deployment through 5k projects in India by 2030
Global consultancy Sunkonnect's platform, Sunsol Cleantech, aims to deploy over two gigawatts of solar capacity in India by 2030. This initiative will support 5,000 projects, including rooftop and utility-scale installations, significantly contributing to India's ambitious 280 GW solar target. Sunsol's efforts are crucial for enhancing the nation's energy security, affordability, and sustainability, building on Sunkonnect's extensive experience in renewable energy.
Adani Group targets 10 GW nuclear power capacity by 2035
Adani Group is venturing into nuclear power, aiming for 10 GW capacity by 2035 to bolster India's energy security amidst global uncertainties. Chairman Gautam Adani announced land acquisition for Adani Atomic Energy, a significant addition to the conglomerate's integrated power platform. This move aligns with accelerated investments across the energy value chain, from mining to clean energy technologies, underscoring a commitment to reliable, affordable, and round-the-clock power for the nation.
Oil Prices May Rise To $80-90 A Barrel In Second Half Of 2026: S&P Global Energy
The effective closure of the Strait of Hormuz was the largest oil supply disruption in history.
Banks boost renewable energy credit by 7% in April amid energy security concerns
Banks are boosting credit to renewable energy projects, with a 7% jump in April, as global conflicts highlight India's reliance on oil. This surge in funding for green energy underscores the nation's commitment to energy transition. Experts note a growing demand for climate finance, urging banks to develop specialized underwriting for sunrise sectors like solar and green hydrogen, which are poised for significant growth.
Vedanta Power, Oil & Gas shares fall 3%; Vedanta Aluminium, Iron & Steel jump up to 5%. What lies ahead?
Vedanta's demerger saw mixed fortunes for its listed entities. While Vedanta Power and Oil & Gas shares dipped, Vedanta Aluminium and Iron & Steel surged, with the latter showing significant gains post-listing. Analysts are bullish on Vedanta Aluminium, citing strong global demand and operational strengths, with multiple brokerages initiating 'Buy' ratings and projecting substantial upside.
Global Market: BOJ policymakers push for faster rate hikes as inflation risks mount
The Bank of Japan is growing more concerned about persistent inflation, with some policymakers advocating faster interest rate hikes after raising the policy rate to 1%, the highest in 31 years. Officials cited rising cost pressures from a weak yen, high energy prices and strong AI-driven demand, with some members suggesting rates may need to move closer to a neutral level of around 2% through gradual but more frequent increases.
Hormuz shipping activity shows signs of recovery; Indian refiners shine amid disruption: S&P Global
Shipping through the crucial Strait of Hormuz is showing signs of recovery, with daily transits increasing significantly, though still far below pre-war levels. Indian refiners, however, are demonstrating remarkable resilience, successfully diversifying their crude oil sources to include Russian, Brazilian, West African, and US grades amidst ongoing global energy supply disruptions. Market watchers remain vigilant as geopolitical tensions continue to influence oil trade.
Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA
Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising concerns about energy supplies and market stability.
India's pharma supply chain remains 65 per cent dependent on China for critical inputs: NITI Aayog
India's pharmaceutical sector, despite being the "pharmacy of the world," faces significant reliance on China for raw materials, with nearly 65% of APIs and intermediates sourced from there. NITI Aayog's report highlights supply chain vulnerabilities and calls for moving up the value chain by fostering innovation and industry-academia collaboration. This strategic shift aims to boost high-value product development and capture a larger global market share.
Worst is over for crude oil prices for now: Jim Burkhard, S&P Global Energy
Oil prices will remain volatile, but we expect Brent to move into the $80-$90 range, says Jim Burkhard, vice-president and head of research for oil markets, energy and mobility at S&P Global Energy.
Dalal Street set for a firm opening as GIFT Nifty trades higher
Indian markets surged on Monday, with the Nifty closing higher, buoyed by positive US-Iran talks, falling crude prices, and strong global sentiment. Value buying in IT stocks and reduced market volatility also contributed to the rally. Analysts anticipate a continued positive outlook for Indian equities, driven by ongoing diplomatic progress and stable energy prices. Investors are advised to watch key technical levels as volatility may persist.