Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Middlemen offer Iranian oil to Indian refiners after US waiver, traders say
Middlemen and Iran's state oil company are offering discounted Iranian crude to Indian refiners after the US granted a 60-day sanctions waiver. However, refiners have limited room for fresh purchases due to existing supply commitments, while payment and banking uncertainties continue to delay commercial negotiations despite renewed interest.
West Asia peace deal limits India Inc’s profitability hit to 100 bps: Report
Crisil Ratings reports that falling crude oil prices may lessen the profitability hit for India Inc. this fiscal year. The anticipated impact on operating margins is now about 100 basis points, significantly lower than initial estimates.
Anti-dumping duty on electrical steel may push transformer costs, impact grid expansion: GTRI
A potential anti-dumping duty on crucial cold-rolled grain-oriented electrical steel (CRGO) imports could significantly hike transformer manufacturing costs and impede India's ambitious power grid expansion plans. With domestic production meeting less than 10% of demand, imposing duties might raise prices without reducing import reliance, impacting vital infrastructure development and renewable energy integration. The probe follows a complaint by JSW JFE Electrical Steel Nashik Pvt Ltd.
Indian refiners unlikely to rush for Iranian oil despite temporary US sanctions waiver, says analyst
Indian refiners are unlikely to sharply raise purchases of Iranian crude despite a 60-day US sanctions waiver, as uncertainty over its duration, payment hurdles and existing supply commitments limit fresh buying, market analyst Sumit Ritolia said. Refiners have already secured most crude requirements for the coming months through advance procurement plans.
India Inc profit hit from West Asia tensions to halve if truce holds, Crisil says
Corporate India's profitability impact from the West Asia conflict is now expected to be half of initial fears, with Crisil Ratings predicting a 100-basis-point hit to operating margins in fiscal 2027. This revised outlook follows crude oil price corrections after the Strait of Hormuz reopened. While most sectors anticipate minimal disruption, airlines and specialty chemicals may face continued pressure. Geopolitical risks, however, remain elevated.
ONGC elevates finance veteran Anupam Agarwal to CFO
Agarwal, who has more than three decades of experience in finance and commercial management in the oil and gas sector, most recently served as Director (Finance) at ONGC Videsh.
Sebi rejects Anil Ambani's settlement request over Reliance Infrastructure
Ambani, the younger brother of billionaire Mukesh Ambani, has faced growing scrutiny from regulators and enforcement agencies over the past 18 months
Goldman Sachs upgrades India's growth outlook after US-Iran peace deal
Goldman Sachs has raised India's 2026 real GDP growth forecast to 6.8% from 6.5%, citing lower oil prices, easing supply disruptions and resilient domestic demand following the US-Iran peace deal. The brokerage also lifted its FY27 GDP growth estimate to 6.5% from 6.1%, expecting stronger growth, lower inflation, and improved fiscal and external balances.
Can AI Really Shop, Book Flights And Manage Your Money? BofA Has Doubts
Bank of America says AI assistants could handle shopping, travel and money tasks, but deep-rooted consumer habits may slow adoption in India.
Rajesh Palviya of Axis Sec suggests JSW Infrastructure, Ind-Swift Laboratories, Welspun Living shares to buy next week
The Indian stock market will remain closed on June 26 for the Muharram holiday. Benchmark indices extended their winning streak ahead of the holiday, with Nifty 50 closing at 24,056 and Sensex at 77,100.47, boosted by easing crude oil prices and supportive measures for the rupee.
Zydus, Sunshine to set up $20 million pharma JV in Sri Lanka
Indian pharmaceutical giant Zydus Lifesciences has partnered with Sri Lanka's Sunshine Healthcare Lanka to establish a new manufacturing facility. This $20 million joint venture, Zydus Sunshine Lifesciences, will be located in the Horana Export Processing Zone. The project aims to boost local drug production, decrease reliance on imports, and improve medicine accessibility.
Asian Markets Today: Nikkei, Kospi Slide As Tech Selloff Returns; Hang Seng Falls
Technology stocks remained under pressure after Thursday's rally faded, while lower oil prices reflected easing supply concerns.