Rising crude prices and unchanged retail fuel rates could squeeze marketing margins of oil marketing companies and trigger further rating downgrades if the Iran conflict persists
The research and broking house sees up to 10 - 15 per cent risk to consensus earnings estimates for FY27F in case oil prices remain at elevated levels.
On the Multi Commodity Exchange (MCX), crude oil for March delivery increased by ₹119, or 1.31 per cent, to ₹9,171 per barrel in a business turnover of 12,745 lots
Crude oil above $110 could become a "breaking point" for India, forcing fuel price hikes and pressuring government finances, says Elara Capital. Notably, oil prices hit $106 per barrel on Monday
Sobha, Anant Raj, Prestige Estates Projects, Oberoi Realty, Signature Global and Lodha Developers were down in the range of 4 per cent to 6 per cent on the NSE in intra-day trade on Monday.
The rupee fell to a fresh intraday low of 92.48 against the dollar on Friday as rising crude oil prices and global risk aversion amid West Asia tensions pressured the local currency
Benchmark indices tumbled as crude prices surged amid escalating tensions in West Asia, triggering heavy FPI outflows and wiping out over Rs 10 trillion in investor wealth
Closure of the Strait of Hormuz, the lifeline for global oil and gas transit, also remains closed. As a result, crude oil and gas prices have been on an upward spiral in the last few days.
An India-flagged oil tanker moved out from the east of the Strait of Hormuz carrying gasoline bound for Africa, an Indian government official said on Friday
Going ahead, analysts expect natural gas prices to stay elevated in the backdrop of developments in West Asia. In March alone, prices of natural gas have climbed 16 per cent to $3.277/MMBtu
Though Zomato and Swiggy are not witnessing any fall in volumes; however, they may see short-term demand pressure from LPG-dependent restaurants, analysts cautioned
As the Iran war disrupts Gulf oil exports, higher prices and rising demand from India and China are delivering Russia an estimated $150 million a day in additional revenues
Oil prices rose sharply after Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, said that Tehran could leverage the potential closure of the Strait of Hormuz and warned of attacks on Gulf Arab states
Concerns over rising inflation stemming from potential energy supply disruptions and rationing prompted investors to book profits, while FII outflows added to the market pressure, said Geojit.
Nifty Metal index: At 10:45 AM on Friday; the metal index was the top sectoral indices loser down 4.3 per cent as against 1.3 per cent decline in the Nifty 50.
Brent futures extended gains to climb up $8.05, or 8.8 per cent to $100.03 at 10:25 a.m. ET or 1425 GMT, while U.S. West Texas Intermediate crude climbed $8, or 9.2 per cent to $95.25
The most immediate impact would be on India's current account deficit. This concern has pushed the rupee to a record low and forced the central bank to sell dollars from its reserves
Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) were down by 4 per cent each on the BSE in Thursday's intra-day trade.
