India’s state-run oil companies are incurring significant losses, estimated at Rs 18 per litre on petrol and Rs 35 on diesel, due to unchanged retail prices amidst volatile global crude oil prices. Despite a government excise duty cut, these firms continue to face mounting financial strain, with potential price hikes anticipated post-state elections.
Evergrande is one of many developers that defaulted after Chinese authorities moved in 2020 to curb excessive borrowing in the property sector.
China’s export growth significantly decelerated to 2.5% in March, falling short of expectations and marking the weakest performance in six months. This slowdown is attributed to rising global energy costs and supply disruptions stemming from the Middle East conflict. Conversely, imports surged by 27.8%, indicating robust domestic demand despite geopolitical uncertainties.
Delhi-Dehradun Expressway: Passing through Delhi, Uttar Pradesh and Uttarakhand, the route is expected to bring down the current travel time of over six hours to roughly two and a half hours, according to an official statement.
Asian markets surged Tuesday, led by a strong performance in Seoul’s KOSPI, as lower oil prices and renewed hopes for US-Iran diplomatic talks boosted investor sentiment. Despite a breakdown in weekend negotiations, communication channels remain open, with both sides indicating a willingness to continue dialogue. Oil prices also declined, further supporting the positive market reaction.
Emkay Global initiated coverage of Avenue Supermart with a sell rating, citing its high valuation. Morgan Stanley resumed coverage of UPL with an equal weight rating, seeing potential in global crop chemical volume revival. HSBC initiated coverage of Acme Solar with a buy rating, highlighting its rapid growth and long-term earnings visibility.
Oil prices dipped below $100 per barrel as hopes for eased US-Iran dialogue emerged following peace talks in Islamabad. Despite some positive signs, an agreement was not reached, with Iran refusing to abandon nuclear fuel enrichment. The US military extended its blockade of the Strait of Hormuz, prompting threats from Iran, though diplomatic channels remain
