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ONGC moves up as its arm, NGEL incorporate joint venture company Oil & Natural Gas Corporation is currently trading at Rs. 251.70, up by 0.90 points or 0.36% from its previous closing of Rs. 250.80 on the BSE. The scrip opened at Rs. 249.20 and has touched a high and low of Rs. 255.30 and Rs. 249.20 respectively. So far 503370 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 344.60 on 01-Aug-2024 and a 52 week low of Rs. 188.30 on 24-Nov-2023. Last one week high and low of...
ONGC moves up as its arm, NGEL incorporate joint venture company
ONGC moves up as its arm, NGEL incorporate joint venture company
Source: Accord Fintech
2024-11-19 12:38:20 pm
Buy Oil and Natural Gas Corporation Ltd For Target Rs.355 By Yes Securities Ltd EBITDA meets estimates; production subpar, while PAT marginally beats on lower taxes ONGC’s Q2FY25 earnings saw in line EBITDA despite a lower crude and gas production and sales. The crude net realization was higher than our estimated while PAT marginally beats on lower taxes. Crude production experienced YoY & QoQ decline, and natural gas saw YoY decline but marginal QoQ recovery, an increase in production from both oil & gas, especially from KG basin remains the key. Other ...
Buy Oil and Natural Gas Corporation Ltd For Target Rs.355 By Yes Securities Ltd
Buy Oil and Natural Gas Corporation Ltd For Target Rs.355 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 10:15:58 am
Oil prices ease, but caution prevails over Russia-Ukraine war Oil prices retreated on Tuesday after the previous day's rally driven by halted production at Norway's Johan Sverdrup oilfield, but investors remained cautious amid fears of a potential escalation in the Russia-Ukraine war. Brent crude futures for January delivery slipped 7 cents, or 0.1%, to $73.37 a barrel by 0119 GMT, while U.S. West Texas Intermediate crude futures for December delivery were at $69.23 a barrel, down 7 cents, or 0.1%. The more active WTI January contract fell 4 ...
Oil prices ease, but caution prevails over Russia-Ukraine war
Oil prices ease, but caution prevails over Russia-Ukraine war
Source: Reuters
2024-11-19 09:15:19 am
Sudden government notifications raise operational challenges for City Gas Distribution companies: PL Capital- Prabhudas Lilladher PL Capital- Prabhudas Lilladher, one of the most trusted financial services organisations in India, has released a report on Oil & Gas sector covering the recent announcement made by the government. The government has issued a notification slashing the Administered Price Mechanism (APM) allocation for City Gas Distribution companies (CGDs) by 20% for the second straight month. The sudden notification raises operational challenges for the CGDs in terms of arranging appr...
Sudden government notifications raise operational challenges for City Gas Distribution companies: PL Capital- Prabhudas Lilladher
Sudden government notifications raise operational challenges for City Gas Distribution companies: PL Capital- Prabhudas Lilladher
Source: PR Agency
2024-11-18 05:36:57 pm
Oil nudges up after Russia-Ukraine tensions escalate Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Brent crude futures gained 29 cents, or 0.4%, to $71.33 a barrel by 0502 GMT, while U.S. West Texas Intermediate crude futures were at $67.20 a barrel, up 18 cents, or 0.3%. Russia unleashed its largest air strike on Ukraine in almost three mon...
Oil nudges up after Russia-Ukraine tensions escalate
Oil nudges up after Russia-Ukraine tensions escalate
Source: Reuters
2024-11-18 09:19:36 am
Buy Oil India Ltd For Target Rs. 710 by Yes Securities Ltd EBITDA miss on lower production and sales of both oil and gas Oil India’s earnings saw lower-than-estimated EBITDA and PAT on weaker volumes while the realizations in line with expectations. Crude production & natural gas both experienced YoY and QoQ increase (but was lower than the company target due to less than planned workover wells & lower offtake by customers. Depreciation, finding cost, and statutory levies showed marginal increase, other expenses were higher than expe...
Buy Oil India Ltd For Target Rs. 710 by Yes Securities Ltd
Buy Oil India Ltd For Target Rs. 710 by Yes Securities Ltd
Source: Yes Securities Ltd.
2024-11-16 03:33:29 pm
Government to expand oil exploration area to 1 million sq km by 2030: Hardeep Puri Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday said that the government aims to expand the country’s oil exploration acreage to 1 million sq km by 2030 to further bolster India’s energy security.   Addressing the GEO India 24 conference here, Puri said the government has reduced "No-Go" areas in the Exclusive Economic Zone (EEZ) by almost 99 per cent, opening up vast new areas for oil and gas exploration. The minister pointed out that wh...
Government to expand oil exploration area to 1 million sq km by 2030: Hardeep Puri
Government to expand oil exploration area to 1 million sq km by 2030: Hardeep Puri
Source: IANS
2024-11-15 05:42:06 pm
Add Indraprastha Gas Ltd For Target Rs. 474 by Yes Securities Ltd Volume beat expectations, but weaker EBITDA spread dampens the earnings Indraprastha Gas Limited (IGL) reported an underwhelming Q2FY25 performance, with Rs5.4bn EBITDA being lower 18.4% YoY and 7.9% QoQ. The Rs4.3bn PAT demonstrated 19.4% YoY decline but experienced a 7.4% QoQ increase. Despite beating volume expectations, the realizations were lower than estimated and elevated gas cost led to eroding EBITDA margins. The stock witnessing a sharp correction, we upgrade our rating to ADD wi...
Add Indraprastha Gas Ltd For Target Rs. 474 by Yes Securities Ltd
Add Indraprastha Gas Ltd For Target Rs. 474 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-15 03:15:41 pm
Neutral Indian Oil Corporation Ltd For Target Rs. 163 by Yes Securities Ltd Weak refining and marketing performance; LPG subsidy burden continues to impact the earnings Indian Oil Corp Q2FY25 performance showcased a poor core performance aggravated by inventory and adventitious losses. The integrated core margins in USD/bbl were lower than our estimates at 2.6 versus 4.1. With EBITDA at Rs37.7bn and Adj. PAT loss of Rs9.8bn, the core GRMs has been quite weaker with inventory losses, while the marketing performance stood weaker than our expectations with higher-tha...
Neutral Indian Oil Corporation Ltd For Target Rs. 163 by Yes Securities Ltd
Neutral Indian Oil Corporation Ltd For Target Rs. 163 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-15 11:41:59 am
Buy Bharat Petroleum Corporation Ltd For Target Rs. 405 by Yes Securities Ltd Strong core refining and marketing performance supports integrated margins BPCL's Q2FY25 results exhibited a soft financial performance where the core integrated margins were marginally higher than our expectations. The EBITDA and Adj. PAT, stood at Rs 45.5bn and Rs 24bn, respectively. The core GRM at USD5.96/bbl was strong while and the market share in diesel and motor spirits highlight the company's operational prowess. BPCL's strategic lower debt:equty amongst its peers, ann...
Buy Bharat Petroleum Corporation Ltd For Target Rs. 405 by Yes Securities Ltd
Buy Bharat Petroleum Corporation Ltd For Target Rs. 405 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-15 10:22:49 am
Sell Indraprastha Gas Ltd For Target Rs.375 By Motilal Oswal Financial Services Ltd Margin risks arise as APM shortage rises * Indraprastha Gas (IGL)’s 2QFY25 earnings performance was marked by volumes exceeding our expectations but a miss at the EBITDA/scm level. With elevated spot LNG costs, continued APM de-allocation, and elections in Delhi in 4QFY25, we believe EBITDA/scm margin may remain under pressure in 2HFY25. We believe the management’s guided target of average 9.5mmscmd in volumes in 2HFY25 is tough to achieve. IGL is most impacted by the recent AP...
Sell Indraprastha Gas Ltd For Target Rs.375 By Motilal Oswal Financial Services Ltd
Sell Indraprastha Gas Ltd For Target Rs.375 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 09:32:35 am
Oil set for weekly loss on uncertainty around Fed rate cuts, China demand fears Oil prices edged down early on Friday as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks. Brent crude futures were down 30 cents, or 0.41%, at $72.26 a barrel by 0105 GMT. U.S. West Texas Intermediate crude futures were down 25 cents, or 0.36%, at $68.45. For the week, Brent is s Oil prices fell on Friday as investors weighed signs demand in top crude importer China continues to underperform amid the country's une...
Oil set for weekly loss on uncertainty around Fed rate cuts, China demand fears
Oil set for weekly loss on uncertainty around Fed rate cuts, China demand fears
Source: Reuters
2024-11-15 08:57:13 am
Oil, gas firms fail to set strict targets to stop methane leaking As the UN climate conference (COP29) is underway in Baku in Azerbaijan, oil and gas companies are exacerbating the climate crisis by failing to set strict targets to stop methane leaking into the atmosphere, while overall action to cut emissions globally remains weak at best and sometimes non-existent, a report from the financial think tank Carbon Tracker said on Thursday.   Methane is a powerful greenhouse gas, and while most large producers have announced plans to cut emissions from...
Oil, gas firms fail to set strict targets to stop methane leaking
Oil, gas firms fail to set strict targets to stop methane leaking
Source: IANS
2024-11-14 10:40:55 am
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh  Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices. Brent crude futures were down 6 cents, or 0.08%, at $72.22 a barrel by 0133 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 13 cents, or 0.19%, at $68.30. The U.S. Energy Information Administration has slightly raised its expectation of U.S. oil output to an average 13.23 million barrels pe...
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh
Source: Reuters
2024-11-14 08:58:38 am
Sell Gujarat Gas Ltd For Target Rs. 462 By Yes Securities Ltd Gujarat Gas' Q2FY25 results were disappointing, volumes negatively surprised on weaker Morbi demand offset by an improved EBITDA spread. Volumes at 8.75mmscmd versus our expectations of 9.48mmscmd with Morbi contributing 2.9mmscmd and CNG declined from its peak at 2.93mmscmd, while the EBITDA spread of Rs 6.4/scm was higher than anticipated. The trending volumes are morbi are up ~3.5mmscmd but the sector is affected by factors - geopolitical situations globally; propane competition, shipp...
Sell Gujarat Gas Ltd For Target Rs. 462 By Yes Securities Ltd
Sell Gujarat Gas Ltd For Target Rs. 462 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-13 02:54:39 pm
Government`s biofuel drive has saved Rs 91,000 crore in oil import bills: Hardeep Puri Petroleum Minister Hardeep Singh Puri said on Tuesday that India’s current biofuel blending rate has reached 16.9 per cent, putting the country on track to reach the 20 per cent target set for 2025-26.    “As a result of the Govt. of India’s biofuel initiatives, we have saved Rs 91,000 crore in import bills parallelly giving a much-needed boost to the agriculture sector,” he added. He also said that India ranks second globally in biofuel blending, undersco...
Government`s biofuel drive has saved Rs 91,000 crore in oil import bills: Hardeep Puri
Government`s biofuel drive has saved Rs 91,000 crore in oil import bills: Hardeep Puri
Source: IANS
2024-11-13 10:43:56 am
Indian Oil aims to finish expansion of Panipat, Gujarat, Barauni refineries by Dec 2025 Oil Corp expects to complete expansion of its refineries in Panipat, Gujarat and Barauni by December of next year, said sources familiar with the information on Tuesday. "We see all three refinery expansions converging by December 2025," one of the source said, adding that the crisis in Ukraine and COVID pandemic were primary reasons for the delays. India's top refiner was expanding the capacity of its Barauni refinery in the state of Bihar from 6.0 million tonnes per annu...
Indian Oil aims to finish expansion of Panipat, Gujarat, Barauni refineries by Dec 2025
Indian Oil aims to finish expansion of Panipat, Gujarat, Barauni refineries by Dec 2025
Source: Reuters
2024-11-13 09:28:31 am
Oil pares losses on tight supply but cloudy demand caps gains Oil prices inched higher on Wednesday underpinned by signs of near-term supply tightness but held near their lowest in two weeks, a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025. Brent futures rose 14 cents, or 0.2%, to $72.03 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.2%, at $68.25. "Crude oil prices edged higher as tightness in the physical market offset bearish sentiment on demand. Buy...
Oil pares losses on tight supply but cloudy demand caps gains
Oil pares losses on tight supply but cloudy demand caps gains
Source: Reuters
2024-11-13 08:49:43 am
ONGC gains despite reporting 39% fall in Q2 consolidated net profit Oil & Natural Gas Corporation is currently trading at Rs. 261.15, up by 4.25 points or 1.65% from its previous closing of Rs. 256.90 on the BSE. The scrip opened at Rs. 262.55 and has touched a high and low of Rs. 262.80 and Rs. 256.30 respectively. So far 545347 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 344.60 on 01-Aug-2024 and a 52 week low of Rs. 188.30 on 24-Nov-2023. Last one week high and low of...
ONGC gains despite reporting 39% fall in Q2 consolidated net profit
ONGC gains despite reporting 39% fall in Q2 consolidated net profit
Source: Accord Fintech
2024-11-12 11:53:15 am
US Oil drilling costs to reach $67 -$70 per barrel by 2026 - Ventura Securities According to a report by Ventura Securities, the Trump Presidency could have a significant impact on the oil market, with potential growth largely dictated by price. The administration's push for increased US oil production through aggressive drilling policies may lead to shifts in global supply dynamics. Trade tensions, particularly tariffs, could introduce new uncertainties, affecting crude prices and US export competitiveness. The geopolitical landscape, including Middle East tensions ...
US Oil drilling costs to reach $67 -$70 per barrel by 2026 - Ventura Securities
US Oil drilling costs to reach $67 -$70 per barrel by 2026 - Ventura Securities
Source: Ventura Securities
2024-11-12 11:29:13 am
Oil prices hold their ground after falling on China stimulus  Oil prices were little changed in early trading on Tuesday, awaiting further price direction from OPEC's monthly report after China's stimulus plan and oversupply concerns took the wind out of markets in prior sessions. Brent crude futures fell 1 cent to $71.82 a barrel, by 0158 GMT. U.S. West Texas Intermediate crude futures were at $68.07 a barrel, up 3 cents. Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 ...
Oil prices hold their ground after falling on China stimulus
Oil prices hold their ground after falling on China stimulus
Source: Reuters
2024-11-12 08:43:18 am
NOV 8-Oil settles down 2% on receding hurricane risk, lackluster China stimulus Oil prices settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders. U.S. West Texas Intermediate futures led the decline and settled at $70.38 per barrel, down by 2.7%, or $1.98. Global benchmark Brent crude futures fell by 2.3%, or $1.76, to$73.87 per barrel. Energy producers shut in more than 23% of oil output in ...
NOV 8-Oil settles down 2% on receding hurricane risk, lackluster China stimulus
NOV 8-Oil settles down 2% on receding hurricane risk, lackluster China stimulus
Source: Reuters
2024-11-11 09:01:14 am
Oil falls as China stimulus fails to boost sentiment, US dollar strength  Oil prices fell on Monday, after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer and as the U.S. dollar edged higher. Brent crude futures fell $1.10, or 1.5% to $72.77 a barrel by 1101 GMT while U.S. West Texas Intermediate crude futures were at $69.17 a barrel, down $1.21, or 1.7%. Both benchmarks fell more than 2% on Friday. The dollar firmed 0.40%, as traders prepared for a key reading of U.S. consumer inflati...
Oil falls as China stimulus fails to boost sentiment, US dollar strength
Oil falls as China stimulus fails to boost sentiment, US dollar strength
Source: Reuters
2024-11-11 08:56:12 am
Buy Bharat Petroleum Ltd For Target Rs.405 By Yes Securities Ltd Strong core refining and marketing performance supports integrated margins BPCL's Q2FY25 results exhibited a soft financial performance where the core integrated margins were marginally higher than our expectations. The EBITDA and Adj. PAT, stood at Rs 45.5bn and Rs 24bn, respectively. The core GRM at USD5.96/bbl was strong while and the market share in diesel and motor spirits highlight the company's operational prowess. BPCL's strategic lower debt:equty amongst its peers, ann...
Buy Bharat Petroleum Ltd For Target Rs.405 By Yes Securities Ltd
Buy Bharat Petroleum Ltd For Target Rs.405 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 03:44:15 pm
Buy Hindustan Petroleum Corporation Ltd For Target Rs.455 By Motilal Oswal Financial Services Ltd Subdued refining margin drags 2Q performance * HPCL’s reported 2QFY25 financial performance was significantly below our expectations, mainly due to a weaker refining margin. LPG under-recoveries have largely remained in line with the 1QFY25 trend. Overall, refining GRM remains soft in Oct’24, and the oil demand outlook too remains muted. As a result, we trim our GRM assumptions for 2HFY25/FY26/FY27. Meanwhile, OMCs continue to generate strong marketing margins on MS/HSD cu...
Buy Hindustan Petroleum Corporation Ltd For Target Rs.455 By Motilal Oswal Financial Services Ltd
Buy Hindustan Petroleum Corporation Ltd For Target Rs.455 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-10 10:50:41 am
Buy Mahanagar Gas Ltd For Target Rs. 2,230 By Yes Securities Ltd Volumes in line; lower EBITDA spreads impacts the performance Mahanagar Gas Limited (MGL) delivered a poor Q2FY25, with a 4.8% QoQ decline in EBITDA to Rs4bn and a sequentially flat PAT at Rs2.8bn. Strong CNG volumes with in-line growth of 11.7% YoY and 4.1% QoQ while EBITDA spreads were weaker on falling APM supply despite price hikes in CNG. We expect the volumes to grow by ~8.5%, but EBITDA spreads should be lower in FY25 as compared to FY24 (peak profitability). We upgrade our rating t...
Buy Mahanagar Gas Ltd For Target Rs. 2,230 By Yes Securities Ltd
Buy Mahanagar Gas Ltd For Target Rs. 2,230 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 09:33:28 am
India says oil prices would have rocketed without its Russian imports Global oil prices "would have hit the roof" if big importer India had not bought oil from Russia following the Ukraine war, India's oil minister said, adding that prices would determine where the country buys oil from. India, the world's third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine's invasion began in early 2022. Before that, India bought little oil from its long-runnin...
India says oil prices would have rocketed without its Russian imports
India says oil prices would have rocketed without its Russian imports
Source: Reuters
2024-11-09 10:52:47 am
Mahanagar Gas inches up on inking pact to form joint venture company with International Battery Company Mahanagar Gas is currently trading at Rs. 1442.40, up by 5.20 points or 0.36% from its previous closing of Rs. 1437.20 on the BSE. The scrip opened at Rs. 1459.30 and has touched a high and low of Rs. 1463.00 and Rs. 1426.00 respectively. So far 7543 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1988.55 on 25-Sep-2024 and a 52 week low of Rs. 1018.00 on 23-Nov-2023. Last one week high and low of the scrip sto...
Mahanagar Gas inches up on inking pact to form joint venture company with International Battery Company
Mahanagar Gas inches up on inking pact to form joint venture company with International Battery Company
Source: Accord Fintech
2024-11-08 11:08:40 am
Oil prices fall as Hurricane Rafael expected to start weakening Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will significantly affect U.S. oil and gas output declined, while the market weighs how President-elect Donald Trump's policies might affect supplies. Brent crude oil futures fell 47 cents, or 0.6%, to $75.16 per barrel by 0446 GMT. U.S. West Texas Intermediate (WTI) crude fell 55 cents or 0.8% to $71.81. The benchmarks fell after rising nearly 1% on Thursday. For the week, Brent is set to gain 3.1...
Oil prices fall as Hurricane Rafael expected to start weakening
Oil prices fall as Hurricane Rafael expected to start weakening
Source: Reuters
2024-11-08 08:47:28 am
Buy Oil India Ltd For Target Rs.685 By JM Financial Services Earnings miss on lower volume & realisation; weak show by NRL too Oil India’s 2QFY25 standalone EBITDA, at INR 24.8bn, was significantly lower than JMFe of INR 28.3bn (and slightly lower than consensus of INR 25.2bn) due to lower crude & gas sales volume and net crude realisation. Hence, PAT, at INR 18.3bn, was also lower than JMFe of INR 20.7bn (though in line with consensus of INR 18.1bn) with higher dry-well write-off partly offset by higher other income and lower taxes. F...
Buy Oil India Ltd For Target Rs.685 By JM Financial Services
Buy Oil India Ltd For Target Rs.685 By JM Financial Services
Source: JM Financial Services Ltd
2024-11-07 03:06:55 pm
Buy Gail Ltd For Target Rs.255 By JM Financial Services Earnings miss due to normalisation of gas trading margin GAIL’s 2QFY25 standalone EBITDA was lower at INR 37.5bn vs. JMFe/consensus of INR 42.2bn/ INR 40.3bn primarily due to lower-than-expected EBITDA from the gas trading segment; it was also partly driven by slightly lower gas transmission EBITDA. Petchem segment EBITDA was largely in line as marginally lower sales volume was offset by robust margin. Further, LPG & OHC segment EBITDA was also largely in line with slightly highe...
Buy Gail Ltd For Target Rs.255 By JM Financial Services
Buy Gail Ltd For Target Rs.255 By JM Financial Services
Source: JM Financial Services Ltd
2024-11-07 02:49:16 pm
Oil steadies as investors digest US election fallout -Oil held steady on Thursday after a sell-off triggered by the U.S. presidential election, with a stronger dollar and lower crude imports in China balancing supply risks from a Trump presidency and output cuts caused by Hurricane Rafael. Trump's election win initially triggered a sell-off that pushed oil down more than $2 as the dollar rallied. But crude prices later pared losses to settle at a less than 1% decline by the end of Wednesday's session. Brent crude oil futures trade...
Oil steadies as investors digest US election fallout
Oil steadies as investors digest US election fallout
Source: Reuters
2024-11-07 09:20:35 am
India`s veg oil imports seen lower in 2024-25, industry group says  India's vegetable oil imports are estimated to decline further in the 2024-25 season to 15 million metric tons, as favourable weather will likely boost domestic production, an industry group said. India, the world's biggest vegetable oils importer, is estimated to have imported 16 million tons in the 2023-24 season that ended in October, said B V Mehta, executive director of The Solvent Extractors' Association of India. In the previous year, the country had imported 16.5 ...
India`s veg oil imports seen lower in 2024-25, industry group says
India`s veg oil imports seen lower in 2024-25, industry group says
Source: Reuters
2024-11-07 09:01:38 am
Oil India zooms on reporting over 3-fold jump in Q2 consolidated net profit Oil India is currently trading at Rs. 529.20, up by 33.75 points or 6.81% from its previous closing of Rs. 495.45 on the BSE. The scrip opened at Rs. 502.05 and has touched a high and low of Rs. 531.05 and Rs. 495.60 respectively. So far 186505 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 767.30 on 30-Aug-2024 and a 52 week low of Rs. 195.93 on 28-Nov-2023. Last one week high and low of the scrip stood at Rs...
Oil India zooms on reporting over 3-fold jump in Q2 consolidated net profit
Oil India zooms on reporting over 3-fold jump in Q2 consolidated net profit
Source: Accord Fintech
2024-11-06 02:56:55 pm
GAIL zooms as its Q2FY25 consolidated net profit rises by 10% GAIL (India) is currently trading at Rs. 207.60, up by 11.20 points or 5.70% from its previous closing of Rs. 196.40 on the BSE. The scrip opened at Rs. 200.05 and has touched a high and low of Rs. 209.95 and Rs. 200.05 respectively. So far 968706 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 246.35 on 31-Jul-2024 and a 52 week low of Rs. 122.90 on 22-Nov-2023. Last one week high and low of the scrip stood at...
GAIL zooms as its Q2FY25 consolidated net profit rises by 10%
GAIL zooms as its Q2FY25 consolidated net profit rises by 10%
Source: Accord Fintech
2024-11-06 02:52:46 pm
India’s Financial Markets in the Era of Donald Trump’s Presidency: What to Expect in Stocks, Commodities, and Currency Markets With Donald Trump back in the Oval Office, India’s financial markets are abuzz with anticipation. As a leader known for his unconventional policies, particularly on trade, foreign relations, and economic matters, Trump’s presidency is likely to shape global markets in ways that India cannot ignore. Here’s a closer look at how Indian stocks, commodities, and currency markets are responding and may continue to evolve in this new era. Market Reactions on November 6, 2024 As...
India’s Financial Markets in the Era of Donald Trump’s Presidency: What to Expect in Stocks, Commodities, and Currency Markets
India’s Financial Markets in the Era of Donald Trump’s Presidency: What to Expect in Stocks, Commodities, and Currency Markets
Source: IGI Editorial
2024-11-06 12:21:13 pm
GAIL clocks net profit of Rs 2,672 crore in Q2 Government-owned gas giant GAIL (India) Ltd reported revenue from operations of Rs 66,622 crore for the April–September period of the current financial year as compared to Rs 64,050 crore in the same period of 2023-24.   Profit before Tax (PBT) for the first half of (H1) FY25 stood at Rs 7,095 crore as compared to Rs 5,019 crore for the corresponding period in the previous year. The company’s profit after tax (PAT) stood at Rs 5,396 crore in H1 FY25 as compared to Rs 3,817...
GAIL clocks net profit of Rs 2,672 crore in Q2
GAIL clocks net profit of Rs 2,672 crore in Q2
Source: IANS
2024-11-06 10:15:57 am
Oil prices fall on stronger dollar as polls start closing in US election Oil prices fell on Wednesday as early poll results in the U.S. election showed Democrat Kamala Harris and Republican Donald Trump locked in a tight race for the presidency. U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to trade at $71.72 per barrel, and Brent crude oil futures lost 0.35 cents, or 0.46%, to trade at $75.18 per barrel at 0132 GMT. Trump won eight states in Tuesday's U.S. presidential election while Harris captured three states and Washington, D.C., ...
Oil prices fall on stronger dollar as polls start closing in US election
Oil prices fall on stronger dollar as polls start closing in US election
Source: Reuters
2024-11-06 08:26:45 am
Quote On Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities Below the Quote On Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities   Comex gold surged to $2,757.50 per ounce on Monday, supported by safe-haven demand following recent polling data that suggested a tight US presidential race, with no clear frontrunner between Kamala Harris and Donald Trump ahead of Tuesday's vote. Last week, gold hit a new all-time high of $2,801.80 per ounce amid the closely contested election, reaffirming its status as a saf...
Quote On Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Quote On Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Source: Kotak Securities Ltd
2024-11-05 04:08:17 pm
Vedanta moves up as its Cairn Oil & Gas inks MoU to join UNEP`s OGMP 2.0 Vedanta is currently trading at Rs. 459.20, up by 0.50 points or 0.11% from its previous closing of Rs. 458.70 on the BSE. The scrip opened at Rs. 458.80 and has touched a high and low of Rs. 464.90 and Rs. 457.20 respectively. So far 101718 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 523.60 on 30-Sep-2024 and a 52 week low of Rs. 230.40 on 06-Nov-2023. Last one week high and low of the scrip stood at Rs. 47...
Vedanta moves up as its Cairn Oil & Gas inks MoU to join UNEP`s OGMP 2.0
Vedanta moves up as its Cairn Oil & Gas inks MoU to join UNEP`s OGMP 2.0
Source: Accord Fintech
2024-11-05 12:34:54 pm
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE The Ministry of New and Renewable Energy (MNRE) has said that subsidies to the oil & gas sector saw a reduction of 85 per cent from a peak of $25 billion in 2013 to $3.5 billion by 2023. Since 2010, India has steadily reformed its fossil fuel subsidies, adopting a ‘remove, target, and shift’ approach. The ministry said, as per a report of Asian Development Bank (ADB), structured approach, including adjusting retail prices, tax rates, and subsidies on select petroleum products ...
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE
Subsidies to oil & gas sector reduce 85% to $3.5 billion in 10 years: MNRE
Source: Accord Fintech
2024-11-05 11:49:29 am
Oil edges down ahead of US election, China NPC meeting  Oil prices eased slightly on Tuesday as markets braced for uncertainties from the U.S. presidential election, after rising more than 2% in the past session as OPEC+ delayed plans to hike production in December and eased supply concerns. Brent crude futures fell 15 cents, or 0.2%, to $74.93 a barrel by 0106 GMT while U.S. West Texas Intermediate crude was at $71.33 a barrel, down 14 cents, or 0.2%. "We are now in the calm before the storm," IG market analyst Tony Sycamore...
Oil edges down ahead of US election, China NPC meeting
Oil edges down ahead of US election, China NPC meeting
Source: Reuters
2024-11-05 08:45:58 am
Oil buyers, producers dialogue needed for market stability, says India min India's oil minister Hardeep Singh Puri called on Monday for discussions between oil producers and consumers to stabilise prices. Oil prices rose more than 2% following a decision by OPEC+ to delay by a month plans to increase output. [O/R] India, the world's third largest oil consumer, relies on overseas purchases for more than 80% of its oil needs. "I'm hoping as a professional that all the players in this game will see a reason that... both producers and consumers...
Oil buyers, producers dialogue needed for market stability, says India min
Oil buyers, producers dialogue needed for market stability, says India min
Source: Reuters
2024-11-04 05:19:29 pm
Brent to continue trading in a broad range of $75-80/bbl: Emkay Wealth Management  Emkay Wealth Management Ltd, the wealth management arm of Emkay Global Financial Services has released a press note on crude oil price movement. According to Emkay Wealth Management Brent crude will continue to trade in a broad range of 75-80/bbl. Crude prices are weak as fundamental factors do not support higher oil prices, there has not been any major attacks on the oilfields in Iran, OPEC, International Energy Agency (IEA), and the US EIA data indicate an oversupply of oil in the com...
Brent to continue trading in a broad range of $75-80/bbl: Emkay Wealth Management
Brent to continue trading in a broad range of $75-80/bbl: Emkay Wealth Management
Source: Emkay Wealth Management
2024-11-04 03:53:07 pm
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields Brent crude is projected to continue trading in a broad range of $75-80 per barrel and any spike in oil prices may happen only if the Middle-East conflict escalates and some damage is caused to oil fields in Iran, according to a report on Monday.  Brent is currently trading at $74 per barrel and the market traded most of the time in the lower part of the range. “What instilled in the markets a certain amount of anxiety is the development around the Middle-East conflict. Given...
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields
Oil prices to spike only with escalation of Middle-East conflict, damage to Iran oilfields
Source: IANS
2024-11-04 02:02:08 pm
Oil climbs more than $1/bbl on reports Iran preparing to strike at Israel Oil prices extended gains on Friday, climbing more than $1 a barrel to pare weekly losses, as geopolitical tensions in the Middle East rose following reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. Brent crude futures, which have rolled to the January contract, climbed $1.31, or 1.80%, to $74.12 a barrel by 0128 GMT. U.S. West Texas Intermediate crude futures rose $1.35, or 1.95%, to $70.61 a barrel after settling up 0.95% in the previous ses...
Oil climbs more than $1/bbl on reports Iran preparing to strike at Israel
Oil climbs more than $1/bbl on reports Iran preparing to strike at Israel
Source: Reuters
2024-11-01 09:02:55 am
Supply adjustments loom to meet global oil demand in long-term A weak global oil demand is weighing on the prices of crude oil and in the long-term, there could be supply adjustments to meet the demand but the appetite for additional volumes will mainly be driven by price stability, a report said on Thursday.  This is predominantly due to economic slowdown worries in both China and the US, mainly on account of weakening industrial production and manufacturing growth. There is a looming supply glut and long-term demographic shifts across the gl...
Supply adjustments loom to meet global oil demand in long-term
Supply adjustments loom to meet global oil demand in long-term
Source: IANS
2024-10-31 04:12:56 pm
Report on Global Crude Oil - World Energy Outlook - Ventura Securities Global Crude Oil - World Energy Outlook A weak global oil demand outlook is weighing on the prices of crude oil. Predominantly due to economic slowdown worries in both China and the US mainly on account of weakening industrial production and manufacturing growth. There is the looming supply glut and long-term demographic shifts across the globe.   As per U.S. Energy Information Administration (EIA): World oil demand will be around 104.30 million bpd next year. Year ...
Report on Global Crude Oil - World Energy Outlook - Ventura Securities
Report on Global Crude Oil - World Energy Outlook - Ventura Securities
Source: Ventura Securities
2024-10-31 01:58:56 pm