Indian Oil Corporation Ltd (IOCL) plans to invest approximately Rs 1 trillion in petrochemical projects over the next five to six years, aiming to significantly increase its petrochemical intensity and production capacity to meet growing domestic demand.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
India's current account deficit could widen to 1.7 per cent of GDP, or about $71 billion, if crude oil prices stay above $90 a barrel for a significant part of the second half of FY27.
Analysts predict that developments in the West Asia conflict, crude oil prices, and upcoming US inflation data will be the primary factors influencing the Indian stock market next week, alongside foreign investor activity and global market trends.
Indian benchmark indices closed marginally higher, with the Sensex gaining over 43 points and the Nifty remaining flat, as a spike in crude oil prices due to geopolitical uncertainties tempered risk appetite.
Fitch Ratings forecasts a 9 per cent aggregate revenue increase for rated Indian corporates in the current fiscal year (FY27), a stronger outlook compared to the 5 per cent estimated for FY26, which is expected to keep credit metrics stable despite potential global and domestic challenges.
'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.'
Foreign portfolio investors (FPIs) have withdrawn nearly Rs 5,109.21 crore from Indian government securities under the fully accessible route (FAR) in just three days, driven by global uncertainty, elevated crude prices, rising US Treasury yields, and a depreciating rupee.
Indian benchmark indices Sensex and Nifty extended their losses for the fourth consecutive session, with the Sensex declining 363.66 points and the Nifty dipping 126.65 points, primarily due to a sharp jump in Brent crude oil prices to USD 98.32 per barrel amid escalating tensions in West Asia.
Cooking oil is often discarded after being used for frying at home or in restaurants. However, a refinery of IndianOil has now won a certification to use the same oil to produce sustainable aviation fuel (SAF), the company chairman Arvinder Singh Sahney said.
Fitch Ratings has warned that India's oil marketing companies (OMCs) could face significant credit pressure if crude oil prices remain elevated, leading to eroded earnings and increased working capital needs due to delayed fuel price pass-through.
Indian benchmark indices, Sensex and Nifty, experienced a significant downturn as escalating tensions in West Asia led to a sharp surge in crude oil prices, coupled with fresh foreign fund outflows and a weakening rupee.
The Indian stock market's trajectory this week will be significantly influenced by crude oil prices, global market trends, and the commencement of the corporate earnings season, with IT major TCS set to announce its June-quarter results on July 9.
State-owned refiners Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have reported substantial losses for the first quarter of financial year 2026-27 (Q1FY27), primarily driven by a sharp increase in crude oil prices exacerbated by the ongoing West Asia crisis and suppressed marketing margins on petroleum products.
Indian benchmark indices Sensex and Nifty experienced significant declines in early trade, driven by soaring crude oil prices amidst escalating tensions in West Asia, coupled with weak global market trends and foreign fund outflows.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
Foreign Portfolio Investors (FPIs) have injected Rs 16,621 crore into Indian equities during the first half of August, continuing a buying spree driven by improving relative valuations, resilient corporate earnings, and expectations of softer US interest rates.
Foreign portfolio investors (FPIs) have injected Rs 30,919 crore into Indian equities in August, marking their second consecutive month of net buying. This follows a Rs 20,200 crore investment in July, indicating a potential reversal after four months of significant outflows, driven by improving corporate earnings, resilient economic activity, and a stable rupee.
Justice Ashwani Kumar Mishra was sworn in as the Chief Justice of the Punjab and Haryana High Court, despite strong objections from the Punjab government. The Mann government claimed the appointment bypassed constitutional norms and procedures, leading to a political tussle with the Centre, which defended the process.
FPIs have already withdrawn Rs 2.6 trillion from Indian equities in 2026, exceeding the outflows recorded in any previous full calendar year.
Indian stock markets, including the Sensex and Nifty, experienced a significant tumble in early trade, driven by escalating tensions in West Asia that pushed crude oil prices close to the USD 100-per-barrel mark, alongside selling in IT stocks and fresh foreign fund outflows.
Indian benchmark indices closed mixed, with the Sensex gaining 113.61 points to 78,079.96 and the Nifty falling 40.10 points to 24,395.85, as elevated crude prices and ongoing geopolitical uncertainty in the Middle East made investors cautious.
Indian benchmark indices closed mixed, with the Sensex gaining 113.61 points to 78,079.96 and the Nifty falling 40.10 points to 24,395.85, as elevated crude prices and ongoing geopolitical uncertainty in the Middle East made investors cautious.
Indian listed companies experienced their fastest revenue growth in 15 quarters during Q1FY27, with combined net sales rising 18.4% year-on-year, while net profit grew 16%, primarily driven by mining, metals, and banking sectors, despite a contraction in operating margins due to higher input costs.
West Bengal could be the Bharatiya Janata Party's real test case of its business-friendly policies, points out Kanika Datta.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
Indian benchmark stock indices, Sensex and Nifty, extended their winning streak to a fourth day, with Nifty surging 1.60 per cent, driven by a sharp decline in crude oil prices and renewed foreign fund inflows.
Nayara Energy, India's largest private fuel retailer, has reduced petrol prices by Rs 5 per litre and diesel by Rs 3 per litre nationwide, marking the first such cut in over two years. This reduction follows easing tensions in West Asia and stabilised international crude oil prices, though public sector retailers have not yet followed suit.
Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
India bought 1.87 million barrels of Russian oil per day in May so far, meeting approximately 40 per cent of its oil imports.
'While his cricketing achievements are obvious, people should remember Ajinkya Rahane, the person. Because he has inspired youngsters in the dressing room by his powerful humane gestures.'
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
Analysts predict that the Reserve Bank of India's interest rate decision, the evolving situation in West Asia involving the US-Iran conflict, and crude oil prices will be the primary factors influencing investor sentiment in the Indian stock market this week.
State-run Oil and Natural Gas Corporation (ONGC) has approved the development of a 1.75 million tonnes (mt) strategic petroleum reserve (SPR) in Mangaluru, a project deemed of national importance, with plans for broad commercial utilisation.
The Indian corporate bond market witnessed a significant surge, with companies raising nearly Rs 16,000 crore in a single day, primarily led by state-owned financial institutions and NBFCs. This strong momentum, driven by improved borrowing conditions and investor confidence, is expected to persist.
Indian Oil Corporation's (IOC's) Q2FY26 operating profit of 14,600 crore beat Street estimates and was up 16 per cent on a sequential basis. It surged 287 per cent over the year-ago quarter on account of an improved refining performance.
After four consecutive months of withdrawals, Foreign Portfolio Investors (FPIs) injected Rs 20,200 crore into Indian equities in July, driven by attractive valuations, improving corporate earnings, and a more favourable global environment.
The Maharashtra Public Health Department has issued a directive making healthy foods and beverages mandatory in all government canteens and official events. The order aims to reduce the consumption of ultra-processed foods and combat the rising incidence of non-communicable diseases by promoting a menu designed with ICMR-NIN and FSSAI guidelines.
