According to Motilal Oswal Financial Services, the sector has also benefited from a series of regulatory and taxation reforms aimed at improving affordability and project viability
Crude Oil prices have soared 7% in the last two weeks following fresh US sanctions on Russian oil imports. Back home, shares of oil exploration and marketing companies look favourably placed on charts
Nomura said that the INR's depreciation remains a headwind for OMCs and CGDs, as their input costs are dollar-linked while revenues are in rupees.
BPCL, HPCL, IOC, Asian Paints, and other downstream oil companies' stock surged, while ONGC, Oil India dropped after Brent crude oil slipped 5 per cent
Technical chart shows that this oil-related India-listed stock - OIL India - can potentially rally up to 27% from here on as Crude Oil soars on Israel-Iran war fears.
BPCL, HPCL, IOC, Asian Paints and other downstream oil companies' stock fell, while ONGC, Oil India rose after Brent crude oil spiked 13 per cent
Port and pipeline stocks drop to 1.35 million tonnes; SEA says domestic mustard crushing is active, but CPI shows edible oil inflation hit 17.4% in April
Crude oil prices fell below $70 per barrel over US President Donald Trump's new tariffs, raising concerns over a global trade war that could weigh on oil demand
Aramco is specifically targeting BPCL's refinery in Andhra Pradesh and ONGC's refinery in Gujarat, said a Reuters report.
The US EIA forecasts Brent crude prices to average $74 per barrel in CY25, down 8 per cent Y-o-Y and to decline to $66 per barrel in CY26
The FY26 budget has allocated Rs 12,100 crore for LPG subsidiary, far lower than the anticipated value
Brent crude futures climbed $1.48, or 1.86 per cent, to $81.24 a barrel by 0113 GMT after hitting an intraday high of $81.49, the highest since August 27
Japan's Nikkei slumped 1.5per cent as of 0022 GMT, while South Korea's KOSPI dropped 1.3per cent and Australia's benchmark lost 0.3 per cent
While upstream earnings are currently impacted, with the OPEC+ delaying its planned rise in production, analysts at Prabhudas Lilladher expect oil prices to rebound to $75-80 per barrel soon.
The board of Oil India has fixed Tuesday, July 2, 2024 as record date to determine the eligibility of shareholders to receive bonus shares in the ratio of 1:2.
The initial public offer (IPO) of Gandhar Oil Refinery had received good response from the investors and was subscribed 65.63 times.
Is there light at the end of the tunnel for tech sector workers? What will India becoming the third largest economy mean for you? Should you buy stocks of oil explorers? Who are the OBCs? Answers here
These stocks can gather steam provided crude prices soften and the government policies remain supportive. Here are the key levels one needs to monitor for these stocks.
Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.
The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.