Market News
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Rupee breaches 93 per US dollar for the first time amid US-Iran war, FII outflows
The Indian rupee fell to 93 per US dollar for the first time on March 20, exacerbated by Middle East conflicts impacting global energy supplies. Analysts predict continued pressure on the rupee, with over $8 billion withdrawn from domestic equities in March due to rising oil prices.
Crude oil surges above $119 amid Iran conflict, Gulf energy attacks raise supply fears
Crude prices surged past $119 a barrel as attacks on Gulf energy assets, including Qatar's LNG plants and Saudi Arabia's Yanbu refinery, intensified fears of prolonged market disruptions. Indian policymakers are preparing for a sustained supply crunch and higher energy prices, with refiners worried about absorbing rising costs amid government reluctance to approve retail fuel price hikes.
NTPC signs pact with Octopus Energy to expand global energy play
As per an exchange filing, the agreement establishes a non-binding framework for cooperation aimed at identifying, assessing and pursuing opportunities in electricity distribution and retail, renewable energy and storage, electric vehicle charging infrastructure, digital energy platforms, innovation, research and development, and capacity building.
Coal paying important role in India's energy security amid Israel-Iran war
India's energy security relies on coal amid global fuel uncertainties. Domestic production meets rising demand, with significant stockpiles at mine-heads and power plants. Coal India Limited is conducting e-auctions to ensure availability. Supplies to small and medium consumers are facilitated. The government assures demand will be met, supporting industrial continuity and economic growth.
Don’t track just Brent; real oil stress much higher, says Arvind Sanger
The Managing Partner of Geosphere Capital Management warns that focusing only on Brent understates the energy shock, with fuel products and fertilisers driving sharper inflation risks. While PSU energy firms face pricing limits, he sees renewables emerging as structural winners.
HMEL to invest Rs 2,600 cr in speciality, fine chemicals sector in Punjab: LN Mittal
HPCL-Mittal Energy Limited (HMEL) announced a Rs 2,600 crore investment in Punjab's speciality and fine chemicals sector. Additionally, HMEL plans to launch 500 new retail fuel outlets nationwide, equipped with modern technology. This expansion follows HMEL's significant Rs 60,000 crore investment in its Bathinda refinery, Punjab's sole oil refinery.
Stocks in news: Tata Steel, Kaynes Tech, GAIL, Somany Ceramics, TVS Motor
Indian markets continued their downward trend on Thursday. Several companies saw significant news. BofA Securities invested in Kaynes Technologies. GAIL assured uninterrupted gas supply to Bengaluru. South Indian Bank launched EPF payment services. DCM Shriram approved renewable energy investment. TVS Motor launched a new electric scooter. Tata Steel moved court over a GST demand.
Gold, silver rates today: Comex gold slides $64/oz; silver drops $1.5 as rising dollar caps safe-haven demand
Gold and silver prices dropped on 12 March, influenced by a strong US dollar and reduced expectations of interest rate cuts. The Israel-Iran conflict escalates, impacting crude oil prices, with Iran targeting energy infrastructure.
Gold, silver rates today: Comex gold drops $87/oz; silver falls $5 as US dollar strengthens
Precious metals fell on 11 March as the US dollar gained, making commodities pricier. Gold futures dropped $80 to $5,012 per ounce, while silver fell $4.67 to $79.64. Rising energy prices and inflation concerns complicate potential Federal Reserve rate cuts amid ongoing Middle East tensions.
Adani Energy Solutions raises $500 million from Apollo Global through dollar bonds
The capital will be used to refinance $500 million of a subsidiary's bonds that are maturing in early August. These bonds were issued in 2016 with a 4% coupon, according to data from Bloomberg.
Adani Energy raises $500 million bilateral debt from Apollo
A unit of Adani Group raised about $500 million through a bond privately placed with funds managed by Apollo Global Management Inc., according to people familiar with the matter, highlighting the Indian conglomerate’s ongoing effort to tap funding outside the public dollar bond market.
Oriana Power gains on bagging EPC contract worth Rs 1,181 crore
Oriana Power jumped 5.52% to Rs 1,894.40 after the company secured an EPC contract worth Rs 1,180.53 crore from a renewable energy developer for a solar power project at the Maithon Dam Reservoir of Damodar Valley Corporation (DVC) in Jharkhand.