The second of the two-part series talks about why zonal pricing may be on the way out
Even though it was better than what analysts had expected, it still paints a bleak picture.
Union Finance Minister Nirmala Sitharaman had earlier this week asked public sector companies to undertake half their capex for the current year by September.
At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019.
Fitch has also revised the outlook on Hindustan Petroleum Corporation to negative from stable and affirmed the long-term IDR at BBB-minus
All that happened in the markets today
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT
All that happened in the markets today
The SGX Nifty is up around 170 points from yesterday's close and is indicating an open at around 9,980 levels for the Nifty today
SGX Nifty is also down around 40 points, indicating a flat to lower opening for the Indian indices
State-run refiner had initially planned to complete the Rs 209.28 billion expansion in July.
In comparison PSU refiners were able to achieve 60%; RIL's oil-to-chemical biz can shift quickly from fuel to chemicals, domestic to exports
Buying more crude to fill strategic capacity will benefit India as international crude oil prices are falling
Traders can benefit from price volatility in the months to come
An output cut, at best, will put a floor to the falling crude prices, but it may not stabilise demand-supply dynamics.
HPCL may benefit more from improvement in marketing margins
HPCL, with higher proportion of retail sales, may benefit more from improvement in marketing margins
One of the biggest challenges has been to execute the change in outlets situated in remote areas with lower off-take
What happened in China is, to some extent, related to COVID-19, but (the fall in oil price) is independent in its own ways
On Friday the Indian rupee slipped below 74 to the dollar for the first time in over 16 months.