The Petroleum Planning and Analysis Cell (PPAC) has denied an RTI request for data on oil imports from Russia, citing its 'commercial and confidential' nature and exemptions under the RTI Act. The Central Information Commission supported this decision, referencing strategic and economic interests.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
Indian benchmark indices Sensex and Nifty continued their upward trend for a second consecutive day, with the Sensex gaining over 800 points, driven by strong performances from heavyweights like Reliance Industries, ICICI Bank, and HDFC Bank, alongside positive cues from easing crude oil prices and robust IT sector earnings.
Indian stock markets are expected to remain highly sensitive to geopolitical developments, particularly the US-Iran situation, and crude oil prices this week, with analysts also highlighting the influence of the rupee-dollar trend, foreign investor activity, and upcoming inflation data.
In a significant move, state-run oil producer Oil India Limited (OIL) has finished drilling its first well in the Andaman sea while Oil and Natural Gas Corporation (ONGC) has just started drilling operations in the area, said officials.
Despite international crude oil prices falling to a four-month low, retail petrol and diesel prices in India are unlikely to be cut immediately because state-run refiners are still processing costlier crude purchased during the peak of the West Asia crisis, Oil Minister Hardeep Singh Puri said.
Indian benchmark indices Sensex and Nifty rallied in early trade, primarily driven by strong buying in IT stocks after Tech Mahindra reported a significant 28.4 per cent rise in its consolidated net profit for the June quarter.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
India's largest private refiner, Reliance Industries Ltd, successfully navigated a volatile energy market in the last quarter of FY26 by diversifying crude sourcing and demonstrating operational agility, particularly in response to geopolitical disruptions and cost fluctuations.
India's domestic passenger vehicle sales experienced a robust 24.6 per cent year-on-year increase in June, propelled by favourable government policies like income tax relief and repo rate cuts, alongside resilient rural demand, even as global crude oil prices pose potential cost pressures.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
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.
Gwadar is viewed as a critical pearl in China's maritime strategy as it would give a permanent logistical footprint near an important choke point - the Strait of Hormuz and the oil rich Persian Gulf, explains Commodore Venugopal Menon (retd).
The demerger of Vedanta's four new entities - Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel - has led to a 16% appreciation in aggregated market capitalisation, with Vedanta Aluminium Metal identified as a likely near-term top performer due to its scale, low production costs, and favourable commodities cycle.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Indian benchmark indices, Sensex and Nifty, saw early gains, primarily driven by IT stocks, amidst expectations of a less aggressive monetary policy from the US Federal Reserve following softer inflation data. Global market trends and upcoming Q1 results are also influencing investor sentiment. Track Sensex, Nifty on july 16.
The government is identifying households with both liquefied petroleum gas (LPG) and piped natural gas (PNG) connections to enforce a ban on dual ownership, aiming to curb misuse and better target subsidies amid global energy supply disruptions.
Tax collection so far has been encouraging, with net direct tax receipts reaching Rs 5.21 trillion by June 17, nearly a 15 per cent increase compared to the same period last year.
Maruti Suzuki, India's leading passenger vehicle manufacturer, is experiencing robust growth in the June quarter, driven by a recovery in the entry-level segment, easing supply constraints, and significant market share gains. Despite potential headwinds from El Nio, analysts remain optimistic about the company's future performance.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Not a single retail outlet ran dry. Every household that wanted a cylinder got one. India faced neither a 1991 moment nor a 2013 one. Macroeconomic stability held. This was not an accident, and it was not luck alone. It was the work of a government that chose to act as it had during the pandemic -- deliberately and gradually, building one measure upon another rather than reaching for a single dramatic lever, explains V Anantha Nageswaran, chief economic advisor to the Government of India.
A PL Capital report projects India's LPG subsidy bill to exceed Rs 1 lakh crore in FY27, creating a significant Rs 70,000 crore gap over the Union Budget's Rs 30,000 crore allocation, driven by the government and OMCs absorbing higher fuel and LPG price increases.
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 stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
India's first trillion-dollar company will be built on technology it owns, not just operates, predicts Ajay Kumar.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
'I am now driving an electric vehicle. I have lost faith in petrol-run cars.'
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
Billionaire Mukesh Ambani announced that the transfer of day-to-day management responsibilities at Reliance Industries to his children, Akash, Isha, and Anant, is "almost complete," marking the final stages of a significant succession process for India's most valuable company.
Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
India will maintain multiple sources for crude oil purchases and diversify them to ensure stability in the supply chain with national interests remaining the "guiding factor" for the procurement, Foreign Secretary Vikram Misri said.
State-owned Life Insurance Corporation of India (LIC) has reported a net profit of over Rs 23,400 crore for the January-March quarter, making it the highest profit-making firm in the Indian financial sector during this period, surpassing major banks like SBI and HDFC Bank.
India has significantly reduced Aviation Turbine Fuel (ATF) prices for international airlines by 27% due to easing global fuel benchmarks, while simultaneously increasing commercial LPG and 5-kg cylinder prices to record highs.
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.
The planned India-Japan annual summit, featuring Japanese PM Sanae Takaichi and Indian PM Narendra Modi, has been moved from Guwahati to New Delhi due to logistical issues and Takaichi's tight schedule. The summit, scheduled for July 1-3, aims to boost bilateral ties with discussions on investment, supply chain deals, energy resilience, and strategic oil reserves, accompanied by a delegation of 50 Japanese companies.
Indian benchmark indices Sensex and Nifty surged in early trade, with the Sensex jumping nearly 700 points, primarily driven by strong buying in IT stocks following TCS's positive June-quarter results and optimistic demand outlook. Track Sensex, Nifty on July 10, 2026.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
Notwithstanding the economic complementarities and the host of agreements for deepening economic relation on a host of areas, both sides share common viewpoints on the foreign policy domain and seek common grounds to serve as a counterweight to China, notes Dr Rajaram Panda.
