IOC GIFT city unit funds deals of over 250 million dollars

 11 Dec 2024 11:20 PM

Indian Oil Corporation's GIFT City unit has financed over $250 million for its group companies in a year, optimizing borrowing costs. The unit refinances loans, provides credit lines, and facilitates inter-group lending. It aims to reach $1 billion in deals within the next 8-10 months and serves as the preferred vehicle for future overseas investments, like the recent $78.

Retail investors lost interest in PSU stocks in Q2. Is it too early to sell?

 11 Dec 2024 10:31 AM

Retail investors reduced their holdings in several PSU stocks during Q2 FY25 due to valuation concerns and election results. Despite the PSU index underperforming the Sensex over the past six months, some analysts remain optimistic about the sector's long-term prospects, citing government spending and growth in oil, gas, and utilities.

CCI clears Thyssenkrupp Electrical Steel India's acquisition by JSW Steel’s JV arm

 10 Dec 2024 10:47 PM

India's Competition Commission (CCI) has approved several deals. JSW JFE Electrical Steel, a subsidiary of a JSW Steel and JFE Steel Corporation joint venture, will acquire Thyssenkrupp Electrical Steel India. The CCI also greenlit Abu Dhabi National Oil Company's acquisition of Covestro AG and Blackstone's purchase of a stake in Bagmane Developers and Bagmane Rio.

KELLTON TECH SOLUTIONS: CO SECURES $2.5M PROJECT FROM OIL INDIA TO TRANSFORM WELLHEAD MONITORING

 10 Dec 2024 06:19 PM

KELLTON TECH SOLUTIONS: CO SECURES $2.5M PROJECT FROM OIL INDIA TO TRANSFORM WELLHEAD MONITORING

Oil prices ease, but geopolitical risk and China policy stance check losses

 10 Dec 2024 07:43 AM

Oil prices remained relatively stable despite a slight dip, influenced by geopolitical tensions in the Middle East after the Syrian government's collapse and China's planned economic stimulus. China's easing monetary policy and anticipated U.S. stockpile data further supported prices. Meanwhile, increased U.S. oilfield hiring signaled potential production growth.

Vedanta Group to invest Rs 1 lakh crore in zinc and oil production, develop industrial park

 09 Dec 2024 10:59 AM

Vedanta Group Chairman Anil Agarwal announced a Rs 1 lakh crore investment in Rajasthan to boost zinc and oil production, creating 5 lakh jobs. The company will also develop an industrial park to encourage entrepreneurship and further industrial growth in the resource-rich state, supported by the proactive state government.

Ghatkopar billboard collapse: Oil regulator orders risk assessment at all petrol pumps

 08 Dec 2024 11:53 AM

Following a deadly billboard collapse at a Mumbai petrol pump in May, India's oil regulator has ordered a nationwide safety review of all fuel stations. Retailers must assess risks posed by nearby structures like billboards and hoardings, implementing mitigation plans within one month.

Morgan Stanley, HSBC cut oil supply forecast, predict $70 Brent after OPEC decision

 06 Dec 2024 08:33 PM

OPEC+ delayed oil output increases, pushing back plans by three months to April and extending cuts until September 2026. Morgan Stanley and HSBC revised their forecasts, predicting a Brent price of $70 per barrel and a smaller oil market surplus in 2025. Bank of America maintained a lower forecast, citing weak demand growth as a key concern for OPEC+.

Indian Oil Corp. shares 1.89% as Nifty

 06 Dec 2024 10:15 AM

A total of 528,518 shares changed hands on the counter till time (IST).

Sensex, Nifty recover to trade higher as RBI cuts CRR by 50 basis points

 06 Dec 2024 09:33 AM

Indian markets opened lower but rebounded on Friday, driven by banking stocks after the RBI cut the CRR by 50 basis points to 4%, leaving the repo rate unchanged at 6.5%. Foreign investors turned buyers, boosting sentiment. Asian markets slipped, while oil prices dipped. The rupee strengthened against the dollar.