Markets
India’s import bill for edible oil likely to jump by $2 billion
India’s import bill for edible oils is slated to jump by $2 billion, following the sharp rise in prices after Russian attack on Ukraine. Supply disruptions caused by the conflict in Ukraine have pushed up sunflower prices from $1,500 per tonne to $2,050 per tonne. Soya oil is now...
Russia offers India oil at $30-35 a barrel
Sanctions-hit Russia is offering hefty discounts to India for direct oil purchases, which will make it attractive for New Delhi to get into contracts with Moscow despite elevated freight costs, sources said. Russia is offering a hefty discount of as much as $30-35/barrel on its flagship Ural grade to...
Govt may dip into strategic oil reserves to calm prices
The government is committed to supporting initiatives for releases from the Strategic Petroleum Reserves for mitigating market volatility and calming the rise in global crude oil prices, the finance ministry said on Monday. At the same time, it’s closely monitoring global price movements of commodities like crude oil, gas,...
Bulk diesel price rise wrecks state transport corporations
Road transport corporations (RTCs), which are run by state governments, are staring at big losses and an undermining of their operational viability owing to last week’s hefty hike in prices of diesel for bulk consumers like them. The oil marketing companies, unable to pass on the recent rise in...
Oil price surges to highest since 2008
Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil. Talks to revive Iran’s 2015 nuclear deal with world powers were mired in...
High crude prices may spur fuel blending
With the price of Brent crude surging past $113 per barrel on Wednesday amid concerns over supply disruptions after Russia’s invasion of Ukraine, and a steep hike in domestic fuel prices looking imminent, the Centre’s ambitious ethanol blending programme (EBP) may get a shot in the arm. The country...
CBI questions ex-NSE CEO Ravi Narain
The CBI has questioned former Nation Stock Exchange CEO Ravi Narain in connection with its ongoing probe related to the alleged abuse of colocation facility by an NSE stock broker, officials said Sunday. The CBI investigators lobbed several sharp questions while recording Narain’s statement on the colocation facility and...
Reliance Industries-Aramco deal called off, stock tanks 4%
Mukesh Ambani’s Reliance Industries Limited called off its deal with Saudi Aramco last week, after having missed out on two self-imposed deadlines. With RIL having shelved the 20% stake sale in the oil to the chemical unit (O2C), the stock came under selling pressure on Monday, falling more than...
AIMIM to make Rajasthan debut in 2023 assembly poll
After making its presence felt in Bihar, Gujarat, Uttar Pradesh, and West Bengal, the All India Majlis-e-Ittehadul Muslimeen (AIMIM) has decided to make its political debut in Rajasthan as well. Speaking to media in Jaipur today, AIMIM chief and Hyderabad MP Asaduddin Owaisi said that he has decided to...
Sebi stops PNB Housing deal with Carlyle
The Securities and Exchange Board of India (Sebi) has directed PNB Housing Finance (PNBHF) to halt its proposed Rs 4,000-crore share allotment to a clutch of companies led by the Carlyle Group. In a stock exchange filing on late Saturday evening, PNBHF said Sebi has restrained the lender from...
India says Pak’s claim on Basmati unfounded
India has hardened its stance on seeking exclusive the geographical indication (GI) tag from the European Union (EU) on basmati rice. India’s Permanent Representative to Unesco, Vishal V Sharma, has categorically said Pakistan “cannot use the trademark basmati”, over which the neighbouring country is demanding a joint claim along...
Rs 15 cr SEBI fine on Franklin Templeton CEO, fund managers
The Securities and Exchange Board of India (SEBI) has fined Franklin Templeton Trustee Services; FT AMC CEO Sanjay Sapre; and seven others to the tune of Rs 15 crore in connection with the abrupt closure of six debt mutual funds schemes last year. SEBI in its order said that...
Adani Group shares plummet on reports of NSDL freeze
Adani Group stocks took a heavy beating on Dalal Street today morning, hitting the lower circuit within the initial minutes of trade. The fall in Adani Group shares came after reports surfaced that National Securities Depository Limited (NSDL) froze three accounts of Foreign Portfolio Investors (FPI) that owned a...
Nifty may hold 14,200, Bank Nifty could head towards 34,900 soon; Axis Bank, Mindtree likely to outperform
The weekly price action formed a high wave candle, indicating elevated volatility in Nifty 50 as profit booking emerged after approaching the psychological mark 15000. Image: Reuters By Dharmesh Shah Nifty Outlook The week that was… Equity benchmarks snapped past three weeks decline and concluded the week at 14631,...
Nifty may hit 15,000, if it holds 14,700; Bank Nifty looks positive on charts; buy TCS, Wipro, among others
The chart pattern suggests that if Banknifty crosses and sustains above 32800 level it would witness buying which would lead the index towards 33200-33600 levels. (Image: REUTERS) By Rajesh Palviya Markets are keeping a very close watch on the ongoing health crisis w.r.t second wave of covid across all...
Rakesh Jhunjhunwala’s favorite stock Titan top Sensex loser, falls for 3rd straight day post Q4 results
Ace investor Rakesh Jhunjhunwala reduced his stake to 3.52 crore shares or 3.97 per cent, at the end of March quarter Titan Company share price fell over 5 per cent to Rs 1,416.60 apiece in intraday deals on BSE on Monday. Rakesh Jhunjhunwala’s favorite Titan stock price traded in...
Sensex, Nifty stage strong intra-day recovery to end flat; here’s what experts make of today’s trade
Dalal Street made an intra-day recovery after having opened deep in the red. (Image: REUTERS) Equity benchmark indices closed mixed on Monday. S&P BSE Sensex ended 63 points lower at 48,718 points while the 50-stock NSE Nifty index gained 3 points and closed at 14,634. Dalal Street made an...
