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Wars in West Asia and Ukraine are turning shipping costs into steel sector’s biggest headache
In the face of a daunting 28-30% increase in international freight costs, India's steel sector is at a crossroads. The unrest in West Asia is inflating the cost of coking coal imports, intensifying the financial strain. Yet, domestic production is holding its ground. The industry is pivoting towards enhancing operational resilience and implementing smart cost management to tackle these obstacles.
INR recovers from historic lows as oil pulls back; RBI announces $5 billion US Dollar/INR swap auction to defend rupee
The Indian rupee recovered well in opening trades on Thursday as global investors noted a slight pullback in crude oil prices over the recent comments on a potential final stage of the US-Iran conflict. INR opened at Rs 96.25 per dollar and hit a high of 96.05 so far during the day. Yesterday, the counter ended near the next critical level of 96.86, a new historic low. Meanwhile, in a major structural intervention to stabilise domestic financial markets, the Reserve Bank of India (RBI) has announced a $5 billion USD/INR buy-sell swap auction. Scheduled to take place next week on Tuesday, May 26, the central banks move is specifically engineered to inject durable, long-term Rupee liquidity into the commercial banking system. The Indian Rupee has faced persistent downward pressure, depreciating significantly against the American greenback in recent weeks due to ongoing global macroeconomic uncertainties and shifting foreign capital flows. By deploying this specialised monetary tool, ...
Top Gainers & Losers on May 19: Triveni Turbine, Tata Tech, Angel One, OLA, Coforge, Vodafone Idea among top gainers
On May 19, the Indian stock market remained range-bound despite positive opening, with the Nifty 50 closing down 0.23%. The broader market outperformed benchmarks, led by Nifty IT's 3.18% gain. Financial stocks struggled, while geopolitical developments around Iran influenced oil prices.
Airlines plead with state-run oil majors to postpone jet fuel hikes
Indian airlines are urging state-run oil refiners to postpone jet fuel price increases for domestic flights. This move aims to ease financial pressures and mounting losses for carriers like Air India, IndiGo, and SpiceJet. Discussions are ongoing, with the oil ministry involved. A decision is expected soon. Refiners are currently selling jet fuel at a loss.
ONGC stock still offers 15% upside as crude stays elevated: JM Financial - CNBC TV18
ONGC stock still offers 15% upside as crude stays elevated: JM FinancialCNBC TV18
Petrol, diesel price hike impact: HPCL, BPCL & IOC shares jump 2% each. What lies ahead for the OMCs?
Oil marketing companies like HPCL, BPCL, and IOC saw a 2% share increase following a second petrol and diesel price hike in under a week, with prices rising by approximately 90 paise per litre. This move aims to alleviate financial pressure on OMCs amid elevated global crude prices and geopolitical disruptions.
IOC Q4 results: Cons PAT surges 78% YoY to Rs 14,458 crore, revenue rises 7%
Indian Oil Corporation announced a significant 78% jump in net profit for the March quarter. Revenue also saw a healthy increase. The company's board recommended a final dividend for shareholders. Despite global uncertainties, IOC's profitability remained strong. Financial metrics like debt-to-equity ratio and profit margins showed improvement.
Rs 3 a litre fuel price hike cuts losses by 25 per cent; daily loss drops to Rs 750 crore
In a noteworthy shift, Indian oil corporations have curtailed daily losses by almost 25% thanks to a Rs 3 per litre increase in petrol and diesel prices. Nevertheless, ongoing global crude oil fluctuation and a depreciating rupee mean that fuel prices still linger below production costs. Currently, there are no discussions surrounding a government financial rescue plan.
IGL Q4 Results: Cons PAT falls 25% YoY to Rs 341 crore, revenue up 6%
Indraprastha Gas Limited (IGL) reported a Q4FY26 net profit fall of 25% YoY to Rs 341 crore, driven by an 8% growth in expenses. Despite the profit dip, revenue increased 6% to Rs 4,585 crore. The company board also recommended a final dividend of 75% for the financial year 2025-26.
Aditya Birla Group to invest $500 million in Vodafone Idea as revival signal strengthens
Aditya Birla Group is injecting ₹4,730 crore into Vodafone Idea (Vi) through a preferential allotment, bolstering the telecom operator's financial standing. This capital infusion follows Kumar Mangalam Birla's return as chairman and aims to support Vi's efforts to compete with rivals Reliance Jio and Bharti Airtel.
Top Gainers & Losers on May 15: HUDCO, Muthoot Finance, Voltas, IOCL, Vedanta, HAL, Aditya Infotech among top losers
On May 15, Indian markets declined, with Nifty down 0.18% and Sensex down 0.25%. Selling in financial and metal stocks offset IT sector gains. The rupee hit a record low of 96.5 against the dollar, influenced by foreign investor withdrawals and rising crude oil prices.
The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike
Shares of HPCL and BPCL fell up to 3% despite the first fuel price hike since 2022, as investors worried the increase would not offset mounting losses. Analysts estimate OMCs could still lose nearly Rs 500 crore daily at current crude prices. With Brent crude above $100 and West Asia tensions persisting, markets fear another quarter of heavy financial pressure for state-run fuel retailers.