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Jindal Stainless and Indian Oil have renewed their lubricant supply partnership for another five years, extending their vendor-managed inventory arrangement at the Hisar unit. The companies said the renewed agreement will support equipment reliability, operational efficiency and energy supplies while opening scope for deeper technical cooperation. View More

New Delhi: Jindal Stainless and Indian Oil Corporation Limited (IOCL) have renewed their lubricants partnership for another five years, with the companies looking to deepen technical cooperation and strengthen energy and lubrication supply support for manufacturing operations, as per a press release. The renewed agreement extends the Lubricants Vendor Managed Inventory (VMI) partnership between the two companies and comes as they seek to support equipment reliability, operational efficiency and manufacturing continuity. The agreement was signed at Jindal Stainless' Hisar unit. Jindal Stainless Managing Director Abhyuday Jindal said the five-year renewal would provide an opportunity to expand the relationship and explore new areas of technical cooperation. "Our long-standing association with Indian Oil reflects the value of sustained collaboration between two organisations with a shared focus on quality, reliability and technical excellence. The renewal of this arrangement for another five years reinforces this relationship and provides an opportunity to deepen our engagement further," Jindal said. Indian Oil Executive Director, Northern Region and State Head, DSO, Hemant Rathore said the renewal of the Consumer's Operated Lube Depot (COLD) agreement marked an important milestone in the relationship between the two companies. Live Events "The renewal of the Consumer's Operated Lube Depot's (COLD) agreement for another 5 years marks an important milestone in this enduring partnership. In addition to lubricants, Indian Oil also caters to Jindal Stainless' energy requirements through supplies of LDO, HSD, LSHS and Propane," Rathore said. The companies said the extended arrangement would support their broader engagement in lubricants and energy supplies as industrial operations increasingly focus on equipment reliability, efficiency and performance. Jindal said the partnership would also provide scope to explore new technical cooperation "as industry needs evolve", indicating that the renewed arrangement is intended to continue beyond supply requirements and support the companies' longer-term operational needs. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Larsen & Toubro’s Power Transmission & Distribution business has won multiple EPC orders worth ?10,000-15,000 crore across India, Saudi Arabia and the UAE. The projects include 380 kV transmission and substation works in Saudi Arabia, 132/11 kV substations and cabling in the UAE, and a transmission system of lines and substations in Visakhapatnam. View More

Larsen & Toubro’s Power Transmission & Distribution (PT&D) business has secured multiple engineering, procurement and construction (EPC) orders worth ₹10,000-15,000 crore in India and overseas to strengthen power transmission infrastructure and facilitate renewable energy evacuation, the company said in an exchange filing on Monday. In Saudi Arabia, PT&D has won orders in the 380 kV transmission and substation segments. The projects will support transmission capacity augmentation and renewable energy evacuation, thereby strengthening Saudi Arabia’s power transmission network and facilitating integration of renewable energy into the grid, as per the company’s exchange filing. In the United Arab Emirates, the business has won an order for constructing 132/11 kV substations and associated cabling works. In the domestic market in India, it has secured an order from a leading private sector developer for setting up a transmission system – comprising transmission lines and substations – in Visakhapatnam. “These order wins demonstrate the breadth of PT&D’s engineering and execution capabilities and the ability to deliver complex power infrastructure solutions across geographies. With the growing demand for grid strengthening, renewable energy integration and associated infrastructure, we are leveraging our technology, project execution expertise and global presence to deliver value for our esteemed clients,” Joji Sebastian, Executive Vice President & Head – PT&D, L&T, said. Live Events Larsen & Toubro shares were trading at ₹3,733.40 on the NSE at 9:42 am on October 5. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

CEA Nageswaran urged Indians to prioritise long-term savings over short-term trading, highlighting the importance of pension assets for financial security. He noted pension assets are only 17% of GDP, significantly lower than OECD peers, indicating room for growth. View More

Stock market outlook: Sumeet Bagadia believes the Indian stock market bias has further weakened, as the Nifty 50 index is approaching its near-term support at 22,200 View More

Tesla's core autos business is under pressure as Chinese and European carmakers roll out affordable and innovative EVs. View More

In this articleTSLAFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO2:4802:48Tesla reports 486,532 vehicle deliveries for third quarter, topping expectationsSquawk on the StreetTesla shares climbed 5% on Friday after the electric vehicle maker reported deliveries for the third quarter that topped analysts' estimates. Here are the key numbers: Total Q3 vehicle deliveries: 486,532Total Q3 vehicle production: 464,391Deliveries fell about 2% from 497,099 a year earlier, but climbed from the second quarter, when Tesla recorded 480,126 deliveries. Analysts were expecting around 461,100 deliveries, according to StreetAccount's consensus. Tesla's company-compiled consensus, published Tuesday, was for 461,974 deliveries.Tesla doesn't break out exact delivery numbers by individual model or region, but the company said its entry-level Model 3 sedan and most popular Model Y SUVs accounted for a vast majority, or 98%, of its deliveries.Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in its shareholder communications.Elon Musk's automaker is under pressure due to surging competition from Chinese EV makers, such as BYD and Xiaomi, which sell more affordable and innovative EVs. Tesla is trying to recover from consecutive annual declines in vehicle sales that were partly caused by a consumer backlash against Musk, the world's wealthiest person, and by the loss of a U.S. federal tax credit. The Inflation Reduction Act, signed in 2022 by President Joe Biden, had made the EV tax break available through 2032. President Donald Trump's spending bill curtailed it ahead of schedule, ending the tax break after Sept. 30, 2025.Read more CNBC tech newsGoogle unveils latest AI model, but Wall Street wants a breakout personal agentFormer LinkedIn chief Roslansky to leave Microsoft, following other exec departuresSpaceX launches Google AI chips into orbit in push toward space-based data centersTrump's AI lunch included every major tech company. Except AppleTesla's stock was down 21% this year as of Tuesday's close, underperforming all of its megacap tech peers.Morgan Stanley analysts, who recommend holding the stock, said in a note after the report that Tesla may be "exiting the EV winter." RBC analysts, who have an outperform rating, called the deliveries figure "impressive" in a note out Friday. They wrote that, "rising fuel costs related to the Iran conflict and regulatory pressure could accelerate EV demand" in Europe, potentially benefitting Tesla and its Chinese competitors this year. The firm also sees Tesla's energy business "well-positioned to capitalize" on "AI-driven electricity demand growth." Tesla also said Friday that it deployed 13.7 GWh of energy storage products, including its Megapack and Megablock systems, during the quarter. A year ago Tesla deployed 12.5 GWh of such products, and last quarter that figure was 13.5 GWh. Tesla does not clearly define "deployment" of its energy storage systems in shareholder communications.Megapacks are used for business and utility-scale developments, and Tesla's newer Megablocks are a combination of four Megapacks around one transformer. The systems use lithium-ion or other battery cells to help data centers and utilities avoid blackouts, allowing for energy storage from sources such as solar and wind.Musk's SpaceX is a large buyer of Tesla's backup batteries and also spent $131 million on Cybertruck pickups in 2025.While Tesla is experiencing declines in deliveries from a year ago, EV demand is up across the globe this year, according to a 2026 Global EV Outlook by the International Energy Agency. The IEA pointed to the Iran conflict and soaring gas prices as catalysts that "reinforced the case for EVs as a way to address energy security and fuel cost concerns."In 2020, EVs and hybrid electric models represented less than 5% of new car sales worldwide. That share reached 1 in 4 new cars sold in 2025, according to IEA.If Tesla reaches at least 311,448 in the fourth-quarter, it will exceed 1.64 million deliveries for the year and surpass the 2025 total. Tesla said it will report third-quarter earnings on Oct. 21 after the market close.WATCH: Tesla opens new semi factorywatch nowVIDEO3:0303:03Tesla opens new semi factory: What you need to knowSquawk on the Street Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Sebi has provided observations for the IPOs of Carlsberg India, Matangi Rubber, Ujin Pharma, and TMC Transformer. Carlsberg's filing is under wraps, with specifics to be announced later. Matangi Rubber intends to issue 57.61 lakh new shares, complemented by an offer for sale. Ujin Pharma is looking to offer 1.18 crore shares, and TMC Transformer targets a substantial Rs 550 crore IPO, consisting solely of new issues. View More

Carlsberg India, Matangi Rubber, Ujin Pharma and TMC Transformer have received the Securities and Exchange Board of India’s (Sebi) observations, allowing them to proceed with their initial public offering (IPO) plans, according to the updated on the regulator’s website. The Indian arm of Danish brewer Carlsberg filed its IPO papers through confidential route so details of the IPO are not yet disclosed. Matangi Rubber’s proposed IPO comprises a fresh issue of 57.61 lakh shares and an offer for sale of 15.15 lakh shares by existing shareholders. The Delhi-based company manufactures tyres, tyre flaps, tubes and other rubber products. The IPO of Mumbai-based Ujin Pharma supplies chemical products include a fresh issue of 1.18 crore shares and an offer for sale of 72.82 lakh shares. TMC Transformer proposes to launch 550 crore IPO, which will be entirely a fresh issue of shares. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

In a significant move for India's market, Sebi has greenlit IPOs for Carlsberg's local entity, TMC Transformers, Ujin Pharma, and Matangi Rubber. TMC Transformers aims to raise Rs 550 crores via new equity to establish a manufacturing plant. Ujin Pharma's offering includes fresh shares and a sale from its promoters, while Carlsberg joins other global firms in this venture. Matangi Rubber has also successfully navigated the IPO approval process. View More

Danish brewing giant Carlsberg's India unit, TMC Transformers (India) Ltd, Ujin Pharma Ltd and Matangi Rubber Ltd have received regulatory clearance from Sebi to proceed with their proposed initial public offerings (IPOs). The Securities and Exchange Board of India (Sebi) received the draft offer documents of the four companies between May and July. The regulator issued its observations on their IPO proposals between September 28 and October 1, according to an update on Sebi's website on Thursday. The Sebi observations mark an important step in the IPO process, allowing companies to proceed with preparations for their public issues, subject to applicable regulatory requirements. Carlsberg India Ltd, the Indian subsidiary of Danish brewing major Carlsberg Group, had submitted confidential pre-filed draft papers with Sebi on July 1. The confidential filing route allows companies to submit draft offer documents to markets regulator Sebi for review without immediately making commercially sensitive information public. Live Events With this move, Carlsberg joined a growing list of multinational companies looking to tap India's equity markets. South Korean conglomerates - Hyundai Motor and LG Electronics - have already listed their Indian subsidiaries to unlock shareholder value. TMC Transformers (India) Ltd's proposed Rs 550-crore IPO is entirely a fresh issue of equity shares, with no offer-for-sale (OFS) component. The company plans to use the IPO proceeds to fund capital expenditure for setting up a greenfield Extra High Voltage (EHV) transformer manufacturing facility with an installed capacity of 78,000 MVA at Halol in Gujarat. The funds will also be used to meet incremental working capital requirements and for general corporate purposes. Ujin Pharma's proposed IPO comprises a fresh issue of 1.18 crore equity shares and an OFS of 72.82 lakh shares by promoters Jinesh Rasiklal Sheth and Umang Ketan Mehta. Of the proceeds from the fresh issue, the Mumbai-based company plans to invest Rs 61.7 crore in Altra Agro-Chem and Rs 21.6 crore in Altra Pharma-Chem through subscription to equity shares, making both companies its subsidiaries. Matangi Rubber Ltd has also received Sebi's observations for its proposed IPO, according to the regulator's latest data. The approval comes amid sustained activity in the primary market. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The U.S. is reportedly sending a third aircraft carrier strike group to the Middle East, as Trump weighs resuming bombing Iran after the midterms. View More

In this article@LCO.1@CL.1Follow your favorite stocksCREATE FREE ACCOUNT Iran's medium-sized oil tankers continue to wait off the coast of Bandar Abbas at the Strait of Hormuz in Hormozgan Province, Iran on September 09, 2026.Anadolu | Anadolu | Getty ImagesThe U.S. is reportedly sending a third aircraft carrier strike group to the Middle East, along with an amphibious force carrying 2,000 Marines, raising stakes for an escalation in the months-long conflict. The deployment comes as President Donald Trump has signaled an intention to resume strikes on Iran after the November midterm elections. The USS Theodore Roosevelt group and the Makin Island force have left San Diego, a U.S. official told Al Jazeera. Separately, the Wall Street Journal reported the full buildup is expected to be complete by November. Trump recently told aides that he expects to resume bombing Iran that same month, according to the newspaper. The buildup comes as the war, now in its eighth month, remains stuck in a stalemate. Indirect talks have stalled as Washington rejected Iran's proposal to reopen Hormuz in exchange for lifting the U.S. blockade, keeping oil prices above pre-war levels. The Saudi-led coalition in Yemen on Thursday accused the Iran-backed Houthis of a drone attack on a Medina power station that supplies the Prophet's Mosque. Coalition spokesman Turki al-Maliki said that the strike on the Taibah distribution station knocked one transformer out of service but left the wider grid intact. A Houthi military staff told the Saba news agency that the claim was a "lie" intended to cover up what was described as Saudi Arabia's failure to substantiate its earlier accusation that the Houthis targeted the Muslim holy city of Mecca.The U.S. Treasury on Thursday sanctioned Iran's auto and rail sectors, including state-owned rail firms and suppliers in the UAE, Hong Kong, Turkey and Indonesia. It also hit the A7 network, a Russia-linked financial channel Treasury says Iran uses to evade sanctions. Treasury Secretary Scott Bessent claimed in a X post on Thursday that Iran loaded "ZERO crude oil" onto tankers in September. Separately, United Kingdom Maritime Trade Operations said a tanker was struck by an unknown projectile in the Strait of Hormuz on Thursday, causing a fire, though the crew was reported safe. The stepped-up military presence came as diplomatic efforts to end the war appeared to remain deadlocked. Secretary of State Marco Rubio reportedly ordered Iranian Foreign Minister Abbas Araghchi's delegation to leave New York earlier than they had planned, after Qatari-mediated indirect talks failed to produce a breakthrough. The unusual diplomatic rebuke underscored the mistrust between the two countries. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Petrol and diesel sales increased in September by 7.2% and 4.9% year-on-year, respectively. The rise in petrol consumption was supported by higher vehicle sales during the month. Meanwhile, diesel demand was boosted due to below-normal monsoon rainfall and increased economic activity. Aviation turbine fuel sales experienced flat growth, indicating subdued air traffic. LPG consumption fell by 9% as disruptions from the war impacted supplies. View More

New Delhi: Petrol and diesel sales rose 7.2% and 4.9%, respectively, year-on-year in September, while aviation turbine fuel (ATF) sales were flat and LPG sales fell 9%, according to oil ministry data. Higher vehicle sales supported petrol consumption, while below-normal monsoon rainfall boosted diesel use for irrigation. Increased economic activity also contributed to higher diesel demand for mobility. Flat ATF sales point to subdued growth in air traffic. LPG consumption, predominantly used for cooking in India, fell in September, extending a decline that began after the war disrupted supplies. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India’s power consumption rose 11.3% year-on-year to 162 billion units in September, driven by cooling and irrigation demand amid a deficit monsoon. Peak power demand met touched a record 269 GW. NTPC generation rose 12.5%, while Coal India increased production 9.2% and total fuel supplies 12.5%. View More

New Delhi: India's power consumption in September rose 11.3% year-on-year to 162 billion units, led by cooling and irrigation demand amid deficit monsoon. It also recorded the month's highest-ever peak power demand met at 269 GW. The country's largest power generator NTPC Ltd generated 38.8 billion units in the month, up 12.5% on year. Total fuel supply by Coal India Ltd rose by 12.5% to 61.20 million tonnes in the month. Coal supply to the power sector grew 10.6% year-on-year to 48.90 million tonnes while those for the non-regulated sector grew 19.41%. During the month, Coal India's coal production grew 9.2% to 53.50 million tonnes compared with 49 million tonnes last year. With the monsoon season over, coal production is expected to further pick up, along with supplies, the company said in a statement. Coal India has been assigned a production target of 815 million tonnes and a supply target of 850 million tonnes for the current fiscal. Coal stocks at power plants saw a sharp depletion as rains in coal-bearing regions affected transportation of the dry fuel. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)