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Fuel marketing losses of state-run oil marketing companies (OMCs) narrowed sharply in the September quarter, helped by lower crude oil prices and the full impact of retail fuel price hikes, according to Emkay Research. View More
New Delhi [India]: Fuel marketing losses of state-run oil marketing companies (OMCs) narrowed sharply in the September quarter, helped by lower crude oil prices and the full impact of retail fuel price hikes, according to Emkay Research. However, diesel sales continued to remain loss-making during the quarter, the research firm said in its oil and gas sector preview. Emkay estimated that petrol marketing margins , excluding the impact of the windfall levy, improved to Rs 2.9 per litre in Q2FY27 from a loss of Rs 12 per litre in the previous quarter. Diesel marketing losses also narrowed to Rs 16.7 per litre from Rs 32 per litre in the previous quarter. The improvement comes after OMCs faced significant pressure on their fuel marketing margins in the June quarter due to higher crude oil prices. Live Events "Marketing losses narrowed," Emkay said, attributing the improvement to lower crude prices and the full impact of retail fuel price hikes. Losses on domestic LPG sales also declined during the quarter. Under-recoveries on LPG narrowed to around Rs 290 per cylinder, according to the report. Aviation turbine fuel (ATF) margins also improved after regular price increases were implemented from July, Emkay said. The earnings outlook for refiners is also being supported by inventory gains. Brent crude averaged around USD 97 per barrel during the quarter, down 6 per cent from the previous quarter. However, crude prices ended the quarter at around USD 120 per barrel, sharply higher than about USD 72 per barrel at the end of Q1. Emkay said the sharp rise in crude prices towards the end of the quarter could result in "significant inventory gains" for some refiners. Overall, the improvement in fuel marketing margins, along with lower LPG under-recoveries and better ATF margins, is expected to provide support to OMC earnings in Q2FY27. .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)
Marsons has partnered with Cleanhill Partners to address the transformer supply shortage in North America. The joint venture will combine manufacturing capabilities with capital for enhanced distribution and service operations. View More
New Delhi: Power transformer manufacturer Marsons Limited on Tuesday said it has agreed to form a joint venture with New York-based PE firm Cleanhill Partners to scale transformer distribution , service, and manufacturing operations across the US and Canada. The partnership aims to address a critical transformer supply crunch in North America, where equipment lead times currently exceed 24 months amid rising demand from grid modernisations, renewable energy additions, and data centre power requirements, the company said in a statement. Under the arrangement, the joint venture will combine Marsons' manufacturing capabilities with Cleanhill's capital and project network, with a longer-term plan to establish full-scale transformer manufacturing facilities in North America. Marsons, which operates a 45,000 square-metre plant with an annual capacity of 12,000 mega-volt-amperes (MVA) and expanding to 26,000 MVA, is already executing equipment supply orders up to 200 MVA for utility-scale projects in the US. Cleanhill Partners specialises in energy transition assets, with an investment portfolio spanning energy storage, power conversion systems, and solar tracker infrastructure. PTI .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)
This would be the second year when the company has procured from commercial mines. In FY25, it had procured around 4 mt. India's largest power generator is expected a coal requirement of around 300 mt in FY27, up 11% from FY26. Most of the company's supply comes from fuel supply agreements with state-run miners. View More
New Delhi: NTPC Ltd plans to procure around 10 million tonnes from commercial mines in the next six months ending March amid depleting coal stocks at power plants, a person in the know said. This is beyond its plan to raise production from its own blocks to diversify procurement amid high demand, the person said. From the next fiscal, the company plans to buy around 10-15 mt coal annually from commercial mines, while targeting around 50 mt from its own mines. This would be the second year when the company has procured from commercial mines. In FY25, it had procured around 4 mt. India's largest power generator is expected a coal requirement of around 300 mt in FY27, up 11% from FY26. Most of the company's supply comes from fuel supply agreements with state-run miners. Also read | Indian Bureau of Mines invites applications to set up mineral exchange India's power consumption has risen sharply as cooling and irrigation demand remained elevated in the first half of the financial year. The high power demand, especially in the non-solar hours, has led to more generation from thermal power plants. Live Events Overall coal stock at thermal power plants were at 20.6 mt against the opening stock of around 55 mt at the beginning of the fiscal. July started with 44 mt after a sharp summer. The depletion of the stock between July and September was despite higher year-on-year supply of coal. In comparison, power demand was much lower in the corresponding period last year. Also read | Hindalco drops plan to buy US' AluChem over extended delays In September, power consumption rose 11.35% year-on-year to 162 billion units, while peak demand reached over 269 GW, unusually high for the month. Monsoon is seasonally a lower production and dispatch month for coal. According to government officials, coal supplies are likely to increase further in the coming weeks. .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)
The state-run power generator is tapping commercial miners to meet a projected 300 MT coal requirement in FY27 as rising heat fuels electricity demand. View More
This is the second time the Maharatna company will purchase coal stocks from commercial miners View More
Power discoms in New Delhi have initiated a 'Tatkal' service for temporary electricity connections during the festive season. This service aims to assist event organizers, including those for Durga Puja, Ramlilas, and weddings. Consumers can apply for these connections online through various platforms provided by the discoms. Arrangements have been made to ensure connections are delivered within 24 hours, subject to certain conditions. View More
New Delhi, Power discoms in the national capital have launched a 'Tatkal' service for temporary power connections within 24 hours for the festival season, aimed at helping organisers of Durga Puja , Ramlilas, Diwali melas and other events, including weddings. BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL) are gearing up to power the city's festivities. The applicants can use websites, mobile apps and customer care of the discoms to apply for the temporary connections. The applicants can also make online payments for these temporary connections, said a BSES spokesperson. Through its 'Tatkal' temporary electricity connection service, BSES is facilitating same-day electricity connections for Durga Puja celebrations, Ramlilas, Diwali melas, weddings and other events, he said. Subject to completion of the prescribed formalities and technical feasibility, consumers can obtain a temporary electricity connection within 24 hours, he said. Live Events RECOMMENDEDSTORIES FOR YOUGoogle enters massive 3.6-GW power deal with Constellation EnergyElectricity, cash and crises: what's on the COP31 agenda? The consumers can apply for a 'Tatkal' temporary electricity connection through multiple convenient channels including BSES website, mobile apps, WhatsApp numbers, customer care centres, Digi Seva Kendra call centres, he added. Applications can also be made through the Delhi government's single window system at the district magistrate's office. Tata Power Delhi Distribution Limited (TPDDL) has made all arrangements to offer 'Tatkal' electricity connections to organisers of Ramlila, Durga Puja and other festivals within 24 hours, said a company spokesperson. Organisers looking to obtain a 'Tatkal' temporary electricity connection from the discom simply need to visit the nearest TPDDL customer care centre or use its websites to apply and make payments for the temporary connection online, she said. .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)
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