DOMESTIC REFINERS
RIL shares can create up to $100 billion wealth, predicts Morgan Stanley
Morgan Stanley, a global brokerage firm, forecasted that Mukesh Ambani-led Reliance Industries' (RIL) fourth monetisation cycle could potentially increase market capitalisation by $60-100 billion. They set a target price of Rs 3,540 in the base case scenario.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 43%
While the indices might be witnessing correction on intra intra-basis, the broader markets are still very much under the control of the bulls. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
India's May Palm oil imports jump 74 pc on rising demand
India's palm oil imports surged 74% to 7,63,300 tonnes in May from 4,39,173 tonnes as the world's largest vegetable oil buyer stocked up to meet rising domestic demand, according to Solvent Extractors Association.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
Refined Russian petro goods imports rise 14% in May
India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
India has a rare request for Reliance & state refiners on Russia oil deal
India has urged state-run oil refiners and Reliance Industries Ltd. to negotiate a long-term supply deal with Russia to shield the economy from volatile prices. While the government wants collaboration, Reliance's reluctance to share sensitive information poses a challenge. India seeks discounted oil amid tighter US sanctions.
- Go To Page 1
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
Bitumen sales hit 10-year high in FY24
"Road construction activity is in full swing. The Ministry of Road Transport and Highways (MoRTH) constructed 12,349 km of national highways in 2023-24, the second highest so far, compared to 10,331 km in 2022-23," the oil ministry said in its industry demand analysis.
Marico eyes foods portfolio to be 2x of current scale in FY27
Marico Limited plans to double its foods portfolio in FY27 and expect its domestic revenue share from food and personal care to increase from 20% to 25%. The company's foods division recorded a 24% value growth YoY, closing the year at four times its scale in FY20. The company is also aiming for consistent improvements in profitability as its Foods and Digital-First sections grow.
For sunflower oil refiners, volume to dip by 8-10 pc but operating margin likely to recover in FY25
Indian refined sunflower oil volumes in FY25 are expected to decline by 8-10%. Consumers are shifting back to soybean oil, leading to a forecasted profitability growth. Sunflower oil demand is influenced by palm oil and soybean oil prices.
Reliance Industries: Lower capex spend likely to improve return ratios
Net profit attributable to the company, India's biggest by value, retreated marginally to Rs 18,951 crore. Analysts expected the country's biggest refiner, telco and retailer to report a bottom-line just shy of Rs 18,000 crore, translating into a decline in excess of 5%.
India's mineral production grows nearly 6% in January
India, the world's second-largest coal user, generated record-high coal-fired electricity in January as rising demand for air conditioning meant that power generation firms did not make big cuts to the use of coal and other fossil fuels. Other minerals such as iron ore, a key raw material for steel, reported a nearly 41% year-on-year growth in sales value amid growing steel demand in the country.
DIAL plans to tap overseas, domestic debt markets
As of now, the GMR Group has not finalised the date for the bond issue. It is in the preliminary stages of discussions with bankers, including HSBC and JP Morgan.
India's diesel exports to Europe see nearly three-fold jump in February
Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia in January.
Private oil companies grab bigger share of aviation fuel market
State-run refiners have traditionally dominated India's aviation turbine fuel business. Private players have, however, gained ground in a decade, aided by open access at airports. Reliance and its JV with BP supply jet fuel at about 30 airports now and serve most of the domestic airlines. Shell's JV sources jet fuel from MRPL's Mangaluru refinery to supply airports in South India.
Air India refinances loans with SBI and BoB at near G-Sec yields
Tata Group-owned Air India refinanced short-term loans with SBI and Bank of Baroda for three years. The Rs 19,000 crore term loan will finance working capital needs and aircraft fleet upgrades. The conglomerate's strong credit profile enabled access to funding for the national carrier.
Russia’s disrupted oil trade crimps margins for Indian refiners
India's state-run refiners are facing challenges as Russian oil becomes more expensive and less accessible due to higher freight rates and US sanctions. The attacks in the Red Sea by Houthi rebels have disrupted fuel trade, impacting Indian refiners and potentially eroding their competitive edge.
State oil cos power up capex machine
Indian Oil Corporation, Hindustan Petroleum Corporation, GAIL, Bharat Petroleum Corporation, and Oil and Natural Gas Corporation exceeded their capex targets, investing in projects such as the Barmer refinery, biofuel production, and gas marketing network.
India to be largest global oil demand growth driver through 2030 -IEA
The world's third-largest oil importer and consumer is on track to post an oil demand increase of almost 1.2 million barrels per day (bpd), accounting for more than one-third of the projected 3.2 million bpd global gains, the IEA said in a report released at the India Energy Week in Goa.
More fuel for India's tank at this stage
India is strategically increasing energy consumption from fossil fuels while emphasizing renewables, aligning with its sustained economic growth. The focus on fossil fuels is driven by low per-capita energy consumption and expectations of growth in manufacturing exports. The country aims to achieve a comprehensive energy transition in the future, acknowledging the current industrialization phase. India's ambitious targets for renewables coexist with the growth in fossil fuel consumption, aligning with historical patterns observed during economic surges.
India seeks more Middle East crude as Red Sea attacks delay cargoes
India's refiners are focusing on increasing supplies from the Middle East and other countries due to recent attacks on ships in the Red Sea, which have raised the risk of longer shipping times and higher costs. Shippers have turned cautious about entering the Red Sea due to multiple attacks by Yemen's Iran-backed Houthi rebels, causing massive diversions and increased costs.
Inflows from private equity, venture capital funds to domestic companies plunge to $27.9 billion in 2023
Private equity and venture capital investments in Indian companies declined about 40% to $27.9 billion in 2023, compared to $47.62 billion in 2022, according to data from Venture Intelligence and the Indian Private Equity and Venture Capitalist Association. The year also saw an increase in outflows to $19.34 billion from $18.45 billion in 2022. However, industry watchers expect a rebound in funding next year.
Refined copper demand likely to grow 11 per cent in FY24: ICRA
"ICRA projects copper prices to remain range-bound at current levels of 8,200-8,300/tonne in the near term," it said in a statement. It further said that the allocation of Rs 10 lakh crore for capital spending in the last Union Budget, coupled with ambitious targets set under the National Infrastructure Pipeline (NIP), is likely to drive copper consumption in the medium term.
RBI refines extant framework for FX hedge to enhance efficiency, ease of access
Based on the feedback from the market, the regulatory framework has been made more comprehensive by consolidating directions for all types of transactions – over-the-counter (OTC) and exchange-traded - under a single Master Direction, the RBI said in a release.
India's November palm oil imports jump 22% on lower prices
India's palm oil imports surged 22% in November, reaching 867,000 metric tons, the highest in three months. The increase is attributed to steep discounts compared to soyoil and sunflower oil, prompting refiners to switch to palm oil. The move could help lower palm oil stocks in top producers Indonesia and Malaysia.
'Refining capacity to grow at slower pace'
As per the data compiled by Centre for High Technology (CHT), a technical wing of ministry of petroleum and natural gas, the refining capacity of Indian refineries is projected to increase by about 56 mtpa by the year 2028," junior oil minister Rameswar Teli told Lok Sabha on Thursday.
Refiners to add 56 million tonnes/year capacity by 2028
“As per the data compiled by Centre for High Technology (CHT), a technical wing of Ministry of Petroleum and Natural Gas, the refining capacity of Indian refineries is projected to increase by about 56 mtpa by the year 2028,” junior oil minister Rameswar Teli told Lok Sabha on Thursday.
Edible oil prices fall up to 29 per cent since last year
In a written reply, Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti said that the government is monitoring retail prices to ensure cost savings are passed onto consumers, and meetings are being held with industry leaders to decrease prices in line with international trends. India has reduced import duties on edible oils to ease domestic prices in recent years.
Private refiners now shifting focus to domestic markets
Pumps operated by the joint venture of Reliance Industries and BP have priced their diesel one rupee a litre cheaper than state-run fuel retailers.
Load More
