Amid strong demand and firm prices, Nalco’s shares have more than doubled over the past year. The stock trades at an enterprise value of 7 to 7.5 times FY27 estimated Ebitda, according to various brokerages. Further upside may be difficult. “Despite strong fundamentals, zero debt, favorable LME prices and a robust demand outlook for aluminum…
Budget Session: The second half of the Budget session of Parliament is set for a stormy start today, 9 March. The Lok Sabha is scheduled to take up an opposition resolution seeking the removal of Speaker Om Birla. The ongoing conflict in West Asia is also likely to figure prominently as the opposition is already…
West Asia Crisis Live Updates: Iran continued its attacks across the Persian Gulf on Sunday, striking key infrastructure by hitting fuel storage tanks at Kuwait’s international airport and damaging a water desalination plant in Bahrain as part of its ongoing missile and drone campaign against neighboring countries, AFP reported. Iran’s foreign minister Abbas Araghchi told…
Airspace in West Asia has been affected by the ongoing conflict between US-Israel and Iran. Thousands of passengers have been left stranded across the Gulf region, with many forced to take longer and more expensive routes to access operational airports in Saudi Arabia and Oman. Data from aviation analytics firm Cirium Ltd. shows that more…
The Qatar supply disruption and risks around the Strait of Hormuz risks come as the LNG importer grapples with weak volumes and rising competition at home. Source
New Delhi, Mar 6 (PTI) – Indian refiners have begun buying some of the over 15 million barrels of Russian crude currently floating on tankers near the country, as they move to offset supply concerns arising from disruptions in the Middle East. Sources said refiners stepped up purchases after the US Treasury Department issued a…
Stock to buy for long term: Escalating tensions between the US, Israel and Iran are expected to remain a near-term overhang for Indian equities, primarily due to the risk of higher crude prices and potential disruptions to global energy supply, said Phillip Capital in a recent report. While these geopolitical tensions could weigh on investor…
The benchmark Nifty50 index recovered close to half of its recent losses on Thursday, as reports emerged that Iran had reached out to the US for talks on ending the war, improving risk appetite. Source
MUMBAI: The Indian rupee tumbled to a record low of 92.41 against the US dollar on Wednesday, battered by a sharp rise in crude oil prices and a surge in safe-haven demand for the greenback as hostilities intensified in West Asia. The rupee had breached the crucial 92 mark at open, compared with its previous…
Oil refiners, rubber product makers, tire and tube manufacturers, and paint companies fell about 3.2% on average in early trade on 4 March. The sectors have slid nearly 7% over the past two days, while the benchmark Nifty 50 index has fallen just 2% since March 2, highlighting the outsized impact on stocks most exposed…
