Market News

Sensex settles 109 pts higher; Nifty ends above 24,050 mark; VIX slides 2.50%

The Nifty settled above the 24,050 mark. Metal, oil & gas and IT shares declined while auto, FMCG and realty shares advanced.

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.

Oil & Natural Gas Corpn signs technical services contract with bp

For its fields in Western Offshore basin

FPIs sell ₹63,450 crore of Indian equities in June first half; financials, oil & gas stocks see highest outflows - Mint

FPIs sell ₹63,450 crore of Indian equities in June first half; financials, oil & gas stocks see highest outflowsMint

ONGC Share Price Live Updates: ONGC's Current Market Performance

Stocks in news: LIC, IRFC, Cummins India, Tata Motors PV, ONGC

Indian markets surged on Wednesday, recovering previous day's losses, with banking stocks leading the charge from a strong support zone, signaling a robust uptrend. Key companies like LIC, IRFC, Cummins India, Tata Motors PV, and ONGC are in focus. IRFC's government offer saw strong institutional demand, while Tata Motors plans significant investment in capacity expansion. ONGC is exploring stake acquisition in Venezuela, and LIC's CFO has resigned.

FPIs continue selling spree in first half of June; financials, oil & gas hit hardest

Foreign investors offloaded shares worth a staggering ₹64,761 crore in the first half of June, the highest since March, driven by elevated oil prices. Financial services saw the largest outflows, followed by oil, gas, and consumable fuels. Automobile and IT sectors also experienced significant selling pressure, with concerns over oil prices and AI's impact on tech revenues cited as key reasons.

India Weighs Return To Iranian Oil As Ministers Prepare For Crucial Talks — Profit Exclusive

The discussions are expected to focus on cooperation across the oil and gas sector, including crude supplies, investment opportunities and broader energy ties between the two countries.

United Drilling Tools secures Rs 1.6 crore repeat export order from Brazil

United Drilling Tools announced that it has secured a repeat export order worth Rs 1.60 crore from Argentera Oil and Gas, Brazil, for the supply of casing pipes with multi-start connectors.

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.

ONGC in talks to acquire PDVSA stakes in two Venezuela oilfields

India's ONGC is in talks with Venezuela's PDVSA to acquire stakes in two oilfields, San Cristobal and Carabobo. This move hinges on ONGC securing a crucial US license to operate, a requirement following US oversight of Venezuela's oil sector. The company aims for greater operational control, potentially boosting production and recovering stuck dividends. International majors have already received similar approvals.

GAIL India appoints Satish Kumar Sinha as Director (Finance)

GAIL (India) announced that it has received a communication from the Ministry of Petroleum and Natural Gas nominating Satish Kumar Sinha, Executive Director of the company as Director (Finance).