MRPL, CPCL, OIL, ONGC, IOC, RIL fall up to 10%; here’s why
Shares of CPCL and MRPL tumbled nearly 10%, while ONGC, OIL, Reliance, IOC, Gujarat Gas, and Indraprastha Gas dropped up to 5% due to sharp decline in international crude prices.
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ONGC Videsh makes oil discovery in Colombia
ONGC Videsh has a significant presence in the oil and gas sector in Colombia.
Edible oil brands have cut prices by ₹10-15: Govt
Govt says timely interventions on multiple fronts have led to a falling trend in edible oil prices.
The “low-for-longer” story of global oil
The post Covid-19 world for oil producers, traders, and consumers will be very different from the earlier decades.
Subsidies spend has fallen: Economic Survey 2018-19
The Survey says that this is an outcome of “the decline in global crude prices, decontrol of prices, and better targeting through direct benefit transfer of subsidies”.
Modi’s Iranian trump card under threat
Iran was India’s big bet towards energy security and safe haven from crude oil price shocks. With the U.S. insisting on zero imports from Iran, the government is left with an unwelcome conundrum.
High crude oil price + weak rupee = Wider CAD
While hoping for no rate action from RBI, Ind-Ra expects a macroeconomic hotchpotch if these factors sustain beyond a quarter.
SpiceJet’s net profit up 11% in March quarter
SpiceJet’s standalone profit for the whole financial year surged 32% from Rs 430 crore in FY17 to Rs 566.7 crore.
