Market News
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ONGC appoints Anupam Agarwal as CFO
Oil and Natural Gas Corporation (ONGC) said that it has appointed Anupam Agarwal, Director (Finance), as its chief financial officer (CFO) & key managerial personnel (KMP) with immediate effect, replacing Yogish Nayak S.
Oil edges lower as Hormuz shipments resume despite ship attack near Oman
Brent crude futures fell 19 cents, or 0.25%, to $75.07 a barrel as of 0055 GMT, while US West Texas Intermediate fell 13 cents, or 0.18%, to $71.79 a barrel
Crude oil prices fall as shipments through Strait of Hormuz resume; Brent oil below $75 a barrel
Crude shipments through the Strait of Hormuz increased this week to their highest level since the US-Iran war began in February after a ceasefire deal reopened the waterway, data showed.
Global Market Today: Asian stocks decline led by tech, oil holds steady
Asian markets saw a dip, led by a pullback in heavyweight chip stocks after a strong rally. US futures remained steady following a volatile session on Wall Street, where tech giants like Apple experienced significant declines. Investors are closely watching the sustainability of high tech valuations amid concerns over AI spending and potential interest rate adjustments by the Federal Reserve.
Oil prices hold gains post attack on cargo ship in Strait of Hormuz
Brnet crude was trading near $75 a barrel, while West Texas Intermediate was below $72 a barrel.
Cooling crude prices drive weekly gains; Street expects Q2 earnings recovery
Indian stock markets closed slightly higher on Thursday, marking a third consecutive week of gains, buoyed by falling crude oil prices. The Nifty 50 and Sensex both edged up, with easing oil prices boosting investor confidence. Analysts suggest dips may attract buying, anticipating improved corporate margins from the second quarter, even with potential monsoon deficits. Volatility expectations also decreased.
Govt targets solar, hydrogen components to cut import dependence
India is boosting domestic manufacturing across solar, green hydrogen, and wind energy sectors to curb import reliance. Key focus areas include solar inverters, electrodes, catalysts, bipolar plates, and polysilicon. This strategic move aims to strengthen the supply chain for critical components, addressing current import dependencies and fostering long-term cost competitiveness for India's burgeoning renewable energy industry.
Cylinder sales restored to pre-war levels & bulk supplies raised to 50%
The government has restored commercial LPG cylinder sales to pre-conflict levels after supplies improved, bringing relief to industrial and business users. The decision comes as import flows stabilised and domestic output strengthened, according to the oil ministry on Thursday. Bulk LPG supplies, which were earlier suspended after the disruption in late February, have also been raised to 50% of pre-conflict levels.
Bharti Airtel Trumps Reliance Jio In May Subscriber Additions, Trai Data Shows
Airtel led the growth in subscriber base with net addition of 29.8 lakh subscribers over the month of April, comprising 29.26 lakh in the mobile segment and 53,809 in fixed line connection segment.
Airtel outpaces Jio in May wireless user gains; adds 2.93 million subscribers
Bharti Airtel surged ahead in subscriber additions during May, welcoming nearly 2.93 million new users, surpassing Reliance Jio's 2.15 million. Despite this, Jio maintains its market dominance with a 39.27% share. Vodafone Idea saw a slight uptick, while BSNL experienced a subscriber decline. India's overall wireless base expanded to 1.294 billion, indicating continued sector growth.
Govt May Nudge Airlines To Cut Fares As Crude Oil Cools, Aviation Minister Suggests
Aviation turbine fuel account for a significant portion of airline operating expenses.
Iraq Walks Back Threat On Leaving OPEC Over Output Limits
Iraq isn't considering leaving OPEC, the nation's oil ministry said.