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397 stories mentioning BSE SensexUpdated 1d ago

Trading amid India's rising May trade flows and projections of large REIT/InvIT inflows by 2030; imports rose 19% and exports 15.8%.

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Asia

Market Chatter: Higher Costs Likely to Increase India Battery Storage Tariffs

Battery storage tariffs in India are expected to go up as higher input costs have made it difficult to keep prices low, said a Reuters report on Wednesday, citing developers and lenders.With around 260 GWh of energy ​storage projects under development, the Asian nation is pushing to expand battery storage to provide round-the-clock renewable power, the news report said.Battery costs have gone up due to the ⁠withdrawal of export incentives by China and the rising prices of lithium, copper and aluminium amid the Middle East crisis.The Reuters report quoted Debamalya Sen, president of the India Energy Storage Alliance, as saying that while the tariffs for standalone battery storage projects had fallen ​sharply over the last couple of years based on the assumption that battery cell costs ⁠would continue to decline, now, with the rise in costs, it has to be seen how those projects will survive.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India's Peak Power Demand Projected to Touch 300 GW Next Year

India's peak power demand is likely to reach a record high of 300 GW next year, propelled by the rapid expansion of data centers, artificial intelligence, and electric vehicles, according to media reports, citing Power ​Minister Manohar Lal's speech at the India ​Energy Storage Week on Wednesday.Lal said India has already met a record peak demand of about 271 GW, and this figure could rise to 276-280 GW this year, the reports said.With the expected rise in electricity consumption, greater investment would be needed for building on energy storage and grid infrastructure as India expands its ​renewable energy capacity, the minister said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

ADB Cuts India Growth Forecast for 2026

The Asian Development Bank trimmed its India economic growth estimate for 2026, according to its Asian ​Development Outlook update published late Wednesday.The ADB said it expects India's economy to grow 6.6% in 2026, down 0.3 percentage points from the April estimate.For 2027, the real GDP growth estimate was unchanged at 7.3%.The ADB expects inflation in India to rise to 5.2% in 2026 from 2.1% in 2025, higher than the 4.5% April projection.

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International

ADB Cuts Developing APAC Growth Forecast for 2026

The Asian Development Bank trimmed its developing Asia and the Pacific economic growth estimate for 2026, below last year's growth due to the effects of the Middle East conflict.In its Asian ​Development Outlook update published late Wednesday, the ADB expects the region's economy to grow 4.9% in 2026, down 0.2 percentage points from the April estimate.For 2027, the real GDP growth estimate was unchanged at 5.1%.The ADB expects inflation in the developing APAC region to rise to 4.3% in 2026 from 3% in 2025, higher than the 3.6% April projection.

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International

IMF Cuts India Growth Forecast for 2026 to 6.4%

The International Monetary Fund lowered its India economic growth estimate for 2026, even as it expects the country to remain among the fastest-growing major economies in the world.In its World Economic Outlook update published late Wednesday, the IMF expects the country's economy to grow 6.4% in 2026, down 0.1 percentage point from the April estimate.For 2027, the real GDP growth estimate was raised by 0.2 percentage points to 6.7%.IMF expects India's growth to be supported by strong momentum in private consumption and services activity.

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Asia

Market Chatter: India's Central Bank Reiterates Call for Crypto Curbs as Tax Department Flags Oversight Challenges

India's central bank has renewed its call for a cryptocurrency policy that leans toward prohibition, amid warnings from the country's tax department that trading through offshore exchanges is difficult to monitor, Reuters reported on Wednesday, citing government documents.The documents indicate that key government agencies favor tighter restrictions on virtual digital assets even as India has yet to adopt a formal policy to ban or regulate cryptocurrencies.The Reserve Bank of India proposed to stop banks and financial institutions from having any involvement with crypto assets and private stablecoins to limit financial stability risks, according to the report.The tax department reportedly identified cases of misreporting of cryptocurrency holdings under income tax disclosures. Less than a quarter of the 645,000 crypto traders reported their transactions in income tax returns for the financial year ended March 2023, the report noted.RBI did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Equities

Market Chatter: Indian Oil Refiners in Talks to Buy Iranian Oil if US Extends Waivers

India's state oil companies are said to be in talks with traders marketing Iranian crude, in case the U.S. extends waivers beyond August or eases restrictions, according to a Bloomberg report on Tuesday, citing sources.However, Indian Oil (NSE:IOC, BOM:530965), Bharat Petroleum (NSE:BPCL, BOM:500547), and Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) are in no hurry to buy Iranian oil as they have fully contracted shipments required through August, the report said.The oil refiners may procure some Iranian cargoes if the discounts are significant, the sources told the news agency, adding that the discussions were aimed at securing access to Iranian barrels in case of any unforeseen developments.Indian Oil, Bharat Petroleum, and Hindustan Petroleum did not immediately respond to comment requests from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSENifty 50BOM:500104BOM:500547BOM:530965NSE:BPCLNSE:HINDPETRONSE:IOC
Asia

Market Chatter: India Allows Four Chinese Companies with Indian Factories to Compete for Critical Power Projects

India has permitted four Chinese power equipment manufacturers to ​participate in government tenders for critical power projects in the country, according to a Reuters report on Friday, citing an order by India's Ministry of Finance dated June 24.The four Chinese companies TBEA Energy, Nanjing Electric India, New Northeast Electric India, and ​Taikai Electric (India) have factories in India, the report said.Since its clash with China over its northeastern border in 2020, India has mandated that Chinese bidders register with a government panel and acquire political and security ​clearances before ​competing for ⁠any government tender, according to the report.According to the quoted order, the exemption is valid for two years and should not ​be treated as a precedent for other companies, Reuters wrote.TBEA Energy, Nanjing Electric India, New Northeast Electric India, and ​Taikai Electric (India) did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

India Plans to Increase Oil and Gas Refining Capacity, Bucks Global Trend: PM Modi

India is poised to increase its oil and gas refining capacity even as there is global uncertainty over the crude oil situation amid the Middle East crisis, Prime Minister Narendra Modi said on Saturday while inaugurating a greenfield refinery in Rajasthan, India.Modi highlighted that while the US has not built a new refinery in 50 years and Europe's capacity is shrinking, India has become the fourth-largest refining nation in the world."And we will not stop here - in the coming years, this capacity will increase further. These efforts enabled India to fight and overcome the greatest energy crisis of the century." Modi said.The new HPCL Rajasthan Refinery is a joint venture between Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104), which holds a 74% stake, and the state government of Rajasthan, which has the remaining 26%. It has a capacity of around 9 million tons per annum.

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India Business Activity Slows in June as Manufacturing, Service Cool, S&P Says
US Markets

India Business Activity Slows in June as Manufacturing, Service Cool, S&P Says

Business activity across India's private sector slowed in June due to a decline in the manufacturing and service sectors, according to final data compiled by S&P Global and released Friday.The final HSBC India Composite Purchasing Managers' Index slid to 57.1 in June from 59.3 in May, well above the 50.0 mark that separates expansion from contraction.Manufacturers and service companies lowered their output forecasts in June, while private-sector firms also restricted the increase in selling prices as cost pressures softened, S&P said in its note Friday.Aggregate sales volumes grew at their weakest pace within three months.Job creation was also at its weakest so far this year, according to S&P.India's services PMI, released the same day, declined to 57.4 from 59.8 in May, the slowest growth in 17 months, HSBC Chief India Economist Pranjul Bhandari said in the note.The figures show a loss of momentum amid challenging market conditions and slower interest for some services.While new export orders grew at the fastest pace in three months, slowing cost pressures also curbed charge inflation as tensions in the Middle East began to cool down, Bhandari said.Norder intakes also saw the slowest expansion in more than two and a half years, S&P said.Service companies that also saw growth noted "competitive" pricing, higher e-commerce demand, and enhanced tourism. Those that saw slower growth cited challenging market conditions and subdued client interest.Service companies paused hiring as staffing counts were sufficient for current needs.Outstanding business volumes saw stability in June, according to S&P.Exports also increased during the month on demand from clients in Australia, Belgium, Canada, Germany, Malaysia, Nepal, Oman, Qatar, Singapore, the UAE, and the U.S.India's manufacturing sector would also have to step up to offset the decline in services, CNBC reported June 26, citing Morgan Stanley Chief Asia Economist Chetan Ahya.The manufacturing PMI fell to 54.2 from 55 the previous month.

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International

India's Private-Sector Activity Slows in May

Business activity across India's private sector slowed in June, with the HSBC India Composite Purchasing Managers' Index (PMI) falling to 57.1 from 59.3 in the previous month, according to final data compiled by S&P Global and released Friday.The reading remained well above the 50.0 mark that separates expansion from contraction.The growth was the slowest since March as the increase in sales was the slowest in three months, while job creation was the softest so far in 2026.The manufacturing PMI fell to 54.2 from 55 the previous month, while the services PMI, released the same day, declined to 57.4 from 59.8 in May.

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International

India's Services Activity Slows in June, HSBC-S&P Survey Shows

Services activity in India slowed in June, with the HSBC India Services Purchasing Managers' Index (PMI) falling to 57.4 from 59.8 in the previous month, according to data compiled by S&P Global and released on Friday.The reading missed the consensus forecast of 58 tracked by Trading Economics. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.The latest performance showed a loss of momentum as challenging market conditions and reduced client interest for some services reportedly stymied growth of total sales and output, S&P Global said.

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Asia

Market Chatter: India Eyes Bigger Oil Inventories, Strengthen Supply Partnerships to Fight Price Volatility

India is aiming to build bigger oil inventories, expand storage capacity, and strengthen its supply partnerships to fight price volatility ahead, Bloomberg News reported Thursday.The country dealt with the Iran war-induced price volatility through diversified energy supplies and strong ties with producers despite its heavy dependence on Middle East oil, liquefied petroleum gas, and liquefied natural gas, the report said, citing oil minister Hardeep Singh Puri.The government also kept retail fuel prices stable, leaving state-owned refiners with combined losses of 747.81 billion Indian rupees on diesel, gasoline, and LPG sales during the April-June quarter, Puri told reporters in New Delhi.Prime Minister Narendra Modi will inaugurate a 180,000-barrel-per-day greenfield refinery in Rajasthan on Saturday in a bid to boost domestic fuel supplies, although the new refinery will raise the country's crude imports by about 150,000 barrels per day.India's refining capacity is forecasted to jump about 20% to 6.2 million barrels per day by 2030, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India Fast-Tracks Plans to Sell Stake in Public Sector Companies to Offset High Oil Price Strain

India is said to be hastening its plan to sell stakes in some major state-owned companies to boost public finances that have been hit by the rise in oil prices, according to a Bloomberg report on Thursday, citing sources.As per the sources cited in the report, eight public sector companies have been identified by officials of the finance ministry for possible stake sales in the coming months.Of these, the sale of a stake in Life Insurance Corp. of India (NSE:LICI, BOM:543526) could bring in up to 100 billion Indian rupees for the government and 50 billion rupees from selling a stake in Hindustan Zinc (BOM:543526, BOM:500188).The report said officials responsible for charting out divestment plans are holding weekly meetings with investment bankers to understand investor demand, determine pricing, and finalize timelines. Also, more bankers are likely being roped in to prepare more state-run companies for divestment in the future, according to the report.India's finance ministry did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Coca-Cola Sounds Out Banks for India Bottling IPO

Coca-Cola is seeking pitches from investment banks for roles on the planned initial public offering of its Indian bottling unit, Hindustan Coca-Cola Beverages, Bloomberg News reported, citing people familiar with the matter.The company is set to hear presentations in London next week, where Rothschild & Co., its adviser on the transaction, will meet potential banking partners, the report said.Coca-Cola is targeting a valuation of about $10 billion for the bottling business, according to Bloomberg.The report added that the offering's timing, size, valuation, and structure are still under consideration and could change.Coca-Cola did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Japan Commits 2 Trillion Yen in Investments to Strengthen Ties with India

Japan has committed 2 trillion yen toward India's 10 trillion yen private investment target, as the two nations issued joint declarations on economic security and AI cooperation.The investment will be made through participations by more than 150 Japanese companies and 120 cooperation agreements, according to a joint statement on Thursday.At a recent bilateral summit, the two nations issued joint declarations on economic security and AI cooperation, including joint R&D on large language models.They also launched the Japan-India CBG Initiative for biogas development and advancing the Mumbai-Ahmedabad High-Speed Rail project.The two nations agreed to deepen defense cooperation under a revised security declaration, hold the next "2+2" ministerial dialogue within the year, and launch energy security talks.

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Asia

Market Chatter: India Reportedly Asks WhatsApp to Pause Username Feature Rollout

India asked WhatsApp to suspend the rollout of its planned username feature and explain the changes, Reuters reported Thursday, citing a government letter it reviewed.Meta's WhatsApp reportedly has three days to respond and says the feature should not be introduced until discussions with the government are completed. The new feature will allow messages to be sent without sharing phone numbers.Meta did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Japanese Investors Led by JBIC to Extend Up To 80 Billion Yen Financing for Power Grid Project in India

State-backed Japan Bank of International Cooperation, along with other investors, including Sumitomo Mitsui Banking Corp, is said to be extending financing up to 80 billion yen to develop a power grid in India, according to a Nikkei report on Thursday quoting sources.As per the report, the Japanese investors will provide syndicated financing for a high-voltage direct current (HDVC) transmission project being developed by the Power Grid Corporation of India (NSE:POWERGRID, BOM:532898).The project is expected to start operations in 2029.The announcement for the project is expected to be made on Thursday during Japanese Prime Minister Sanae Takaichi's visit to India and meeting with her counterpart, Indian Prime Minister Narendra Modi.Japan Bank of International Cooperation and Sumitomo Mitsui Banking did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India Cuts Export Duty on Diesel, Jet Fuel, Raises Levy on Petrol

India has reduced windfall taxes on diesel and aviation turbine fuel exports while increasing the export duty on petrol, with the revised rates taking effect from July 1, Reuters reported Tuesday, citing a government order.The export duty on diesel was cut to 8.5 rupees per liter from 14 rupees, while the levy on aviation turbine fuel was lowered to 7.5 rupees from 12.5 rupees per liter. The duty on petrol exports was raised to 4 rupees per litre from 1.5 rupees to help ensure domestic fuel availability.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Indian Refiners Eye Alternate Sources for Oil Imports to Cut Middle East Dependence

In a bid to reduce their dependence on oil imports from the Middle East, Indian state-owned refiners are looking more keenly for alternative options, including spot-market purchases, according to a Bloomberg report on Tuesday, quoting sources.After reeling under the shock of oil and gas shortage due to the Iran war, Indian refiners are planning to reduce the volume they buy from producers in the Middle East under long-term contracts, the report said.Major public sector refiners Indian Oil (NSE:IOC, BOM:530965), Bharat Petroleum (NSE:BPCL, BOM:500547) and Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) usually purchase around half of their overall crude through long-term deals, with the remaining coming from the spot market, according to the report.To avoid any disruptions, they are looking to opt for more immediate deals along with entering into supply arrangements with trading houses that source crude from multiple regions such as Guyana, Brazil, and the U.S., Bloomberg wrote.Indian Oil, Bharat Petroleum and Hindustan Petroleum did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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