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INR settles lower amid pessimistic global sentiments
The Indian rupee declined 11 paise to close at 94.74 (provisional) against the US dollar on Tuesday weighed down by a firm greenback and weak domestic markets. However, a decline in global crude oil prices cushioned against a sharper decline in the local unit. At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar and traded in a range of 94.63-94.92 before settling at 94.74 (provisional), down 11 paise from its previous close. Indian stock indices Sensex and the Nifty50 ended notably lower on Tuesday, weighed down by weakness in global markets, FII selling and weak Indian PMI data. Global tech stocks fell amid concerns that AI-driven valuations have become overstretched, triggering heavy selling in the Indian tech space.
NLC India, Indian Oil Corporation partner up for large-scale green energy projects
State-run NLC India Limited (NLCIL) has partnered with Indian Oil Corporation Limited (IOC) to form a joint venture focused on developing large-scale green energy projects in Tamil Nadu. This collaboration, formalized by a Memorandum of Understanding, aims to advance renewable energy initiatives including solar, wind, and storage solutions. The partnership signifies a strategic move for NLCIL's diversification into clean energy and contributes to India's sustainable development goals.
Eleven India-bound vessels have crossed Strait of Hormuz since signing of Iran-US MoU: MEA
Eleven India-bound vessels have successfully navigated the Strait of Hormuz since the US-Iran agreement on June 17, according to MEA spokesperson Randhir Jaiswal. Ten Indian-flagged ships remain in the Persian Gulf, with two more entering the region. This crucial waterway, vital for global oil transit, has recently faced disruptions, raising concerns about energy supplies and market stability.
Karnataka HC directs OMCs to honour ethanol offtake pact
State-run oil companies must honor their ethanol offtake agreements, a high court ruled, offering a significant boost to dedicated ethanol producers. The court rejected the oil marketing companies' attempt to deviate from contractual commitments, emphasizing that arbitrary actions cannot be disguised as discretion. This judgment provides crucial relief to ethanol manufacturers who invested based on these long-term pacts, ensuring they receive their contracted quantities.
India's pharma supply chain remains 65 per cent dependent on China for critical inputs: NITI Aayog
India's pharmaceutical sector, despite being the "pharmacy of the world," faces significant reliance on China for raw materials, with nearly 65% of APIs and intermediates sourced from there. NITI Aayog's report highlights supply chain vulnerabilities and calls for moving up the value chain by fostering innovation and industry-academia collaboration. This strategic shift aims to boost high-value product development and capture a larger global market share.
Oil market may re-enter surplus zone; Brent could slide up to $66/bbl
Brent to trade within $70-$76/bbl range over the next quarter, with downside risks extending toward $66-$68/bbl should Iranian supply recover faster than anticipated.
Is Kirloskar Oil Engines stock running ahead of fundamentals after 25% jump this week?
Kirloskar Oil Engines shares hit a 52-week high after winning a 192MW data-centre genset order from HyperNext, breaking into a segment dominated by Cummins. Strong FY26 numbers, capacity expansion and a narrowing valuation gap versus Cummins are fuelling the re-rating.
Global funds snap Indian stock selling streak as oil shock ebbs - BusinessLine
Global funds snap Indian stock selling streak as oil shock ebbsBusinessLine
Anmol India closes trading window ahead of Q1FY27 results - scanx.trade
Anmol India closes trading window ahead of Q1FY27 resultsscanx.trade
Worst is over for crude oil prices for now: Jim Burkhard, S&P Global Energy
Oil prices will remain volatile, but we expect Brent to move into the $80-$90 range, says Jim Burkhard, vice-president and head of research for oil markets, energy and mobility at S&P Global Energy.
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).
Crude Oil Unwind Hits a Hurdle - Investing.com India
Crude Oil Unwind Hits a HurdleInvesting.com India