Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
From playful twirls to powerful poses, Shivangi Joshi knows how to turn heads with her undeniable presence.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
Outgoing Chief Election Commissioner Rajiv Kumar has expressed concerns about long-pending cases questioning electoral processes, arguing they fuel distrust and should be scheduled with consideration for election periods. He also advocated for enhanced transparency in political promises, with clear disclosures on financial viability and impact on state finances. Kumar further stressed the need for a totaliser system to maintain polling station-wise voting confidentiality and urged the empowerment of NRIs to vote remotely. He highlighted the potential of biometric authentication and technology to address issues like impersonation and multiple voting.
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the past few months, according to industry sources and ship-tracking data. Some of the increase in America's market share may have come at the expense of Russia, India's biggest crude oil supplier, said industry sources.
rediffGURU Aamish Dhingra offers advice on how to navigate difficult situations in your career.
'Given a chance, more than 50 per cent of employees would switch to WFH as opposed to working from office.'
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
For Reliance Industries Ltd (RIL), the September 2024 quarter (Q2FY25) may turn out to be yet another weak one as refining margins drag, say analysts. Two brokerage firms - ICICI Securities and Nuvama - expect a 1-13 per cent dip in reported profits in Q2FY25 from a year ago. Kotak Institutional expects a modest 2.2 per cent rise. Revenue, at best based on available analyst estimates, could rise up to 4 per cent.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
IMAGES from the Champions Trophy Group A match played between India and New Zealand at the Dubai International Cricket Stadium, in Dubai on Sunday
During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
Essar Group co-founder Shashi Ruia has died after a prolonged illness. He was 80.
A resurgence in Saudi Arabian supplies of crude oil to India coupled with an attack on an Iraqi tanker in August carrying crude to Europe may result in improved bargaining power for India with West Asian and Russian suppliers for winter supplies. Shipments of Saudi oil rebounded in September from August, surging to the highest since March while Russian oil shipments rose marginally as Saudi Arabia tried to claw back market share in Asia, according to industry sources and ship tracking data.
Maaya's greatest strengths is her fearlessness.' 'Regardless of her opponent, she never backs down.' 'Even when she was eight years old, she fought for every point, never giving up.'
A 150 million year old short-tailed bird fossil discovered in China's Fujian Province pushes back the emergence of modern bird body structures by 20 million years, suggesting birds originated earlier than previously thought. The Baminornis zhenghensis fossil, with its unique combination of modern and ancient features, challenges the previous understanding of bird evolution and suggests a more diverse Jurassic bird fauna.
Her every look -- whether it's a sleek, structured gown at a gala or a perfectly tailored suit on a casual day -- is meticulously curated.
Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
Aamina Zehra, a young martial artist from Srinagar, has brought pride to her hometown and country by winning a silver medal at the Pencak Silat World Championship held in Abu Dhabi.
Mystery spinner bowls in nets as India prep for three-match ODI series vs England.
Novelis' Q3FY25 volume stood at 904,000 tonnes (down 1 per cent Y-o-Y, down 4 per cent Q-o-Q), due to lower VAP and automotive shipments. Revenue stood at $4.1 billion (+4 per cent Y-o-Y, down 5 per cent Q-o-Q).
Dharma Guardian 2025 will primarily focus on urban warfare tactics and counter-terrorism operations and underscores the growing strategic partnership between India and Japan.
Indian cricket captain Rohit Sharma has expressed his reservations about certain clauses in the BCCI's new disciplinary guidelines, particularly the restriction on families accompanying players on long tours. The guidelines, reportedly prepared at the behest of head coach Gautam Gambhir, have sparked debate within the team, with Sharma indicating he will discuss the matter with the BCCI secretary.
Ever since he has come back into the Indian team last year in October last year, Varun Chakravarthy has proved to be unstoppable, picking up 27 wickets in 10 matches
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.
The market responded positively to the Q1 results of oil marketing companies (OMCs), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) despite numbers being weaker than consensus. BPCL's reported gross refining margin (GRM) was in line at $7.9 per barrel (bbl) in Q1FY25, which implies marketing margin stood at Rs 4.8 per litre. Standalone profit after tax or PAT at Rs 3,000 crore was down versus consensus due to under-recoveries in LPG business.
Pearls have become 'a thing' because they satisfy a longing for timelessness while remaining adaptable to contemporary tastes.
Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose. Its consolidated net profit of Rs 18,540 crore, or Rs 13.70 per share, in October-December - the third quarter of April 2024 to March 2025 fiscal (FY25) - compared to Rs 17,265 crore, or Rs 12.76 a share, in the same period a year back, according to a stock exchange filing by the company.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
While the exterior has undergone minor refinements, the real improvements lie within, notes Rajesh Karkera/Rediff.com.
Priyanka Mohan lights up the silver screen while ruling the fashion scene!
The stage may be set for a recalibrated US-Iran relationship, suggests Ambassador M K Bhadrakumar.
India's annual gold consumption is about 800-900 tonnes, of which about 750 tonnes is imported. However, in 3-5 years, domestic refineries would meet the whole demand, reports Rajesh Bayani.
The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL). The approval by the Cabinet will enable the sale of the government's 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
