Business

Market Extends Winning Streak But Struggles to Maintain Early Gains

Published

9 months ago

March 26, 2025

The stock market struggled to maintain its initial gains on Tuesday but managed to continue its winning streak for the seventh consecutive session, with the Nifty closing above 23,650. It started strongly, opening above 23,700, and briefly climbed over 23,800 during the early trading hours.

By the end of the day, the Sensex rose by 32.81 points, or 0.04%, finishing at 78,017.19, while the Nifty increased by 10.30 points, also up 0.04%, to close at 23,668.65.

During the session, the Nifty reached a high of 23,869.6 before dipping to a low of 23,601.4, while the Sensex fluctuated between 78,741.69 and 77,745.63.

In sector performance, all sectoral indices closed lower except for IT, which was the sole gainer, rising nearly 1%. In contrast, the auto, capital goods, consumer durables, metal, oil & gas, power, PSU bank, realty, and telecom sectors all fell by 1-1.5%. Profit booking was evident in both the Defence and PSU Bank indices, which dropped nearly 2%.

Infosys saw a significant increase of nearly 3% to ₹1,634 during morning trading, bolstered by a softer tariff stance from US President Donald Trump that boosted investor sentiment and rekindled interest in IT stocks. The BSE Midcap index declined by 1%, while the Smallcap index fell by 1.6%.

A total of 70 stocks on the BSE reached a 52-week high, including SBI Cards, JSW Holdings, Shree Cements, JSW Steel, Bajaj Finance, TCPL Packaging, Kotak Mahindra Bank, Chambal Fertilisers, and Jupiter Life Line Hospitals, among others.

The top gainers within the Nifty index included Ultratech Cement (3.35%), Bajaj Finserv (2.69%), Trent (2.58%), Infosys (2.24%), and Grasim Industries (2.24%). Conversely, the biggest losers were IndusInd Bank (4.84%), Dr. Reddy’s Laboratories (2.68%), Adani Enterprises (2.04%), Coal India (1.90%), and Adani Ports and Special Economic Zone (1.53%).

The Bank Nifty closed at 51,704.95 after hitting an intraday high of 52,063.95 and a low of 51,429.6. IndusInd Bank’s shares slipped by 5% following a ₹30 crore penalty related to GST issues, a situation the bank plans to appeal, yet the uncertainty led to selling pressure.

Chemicals companies, including India Pesticides, Insecticides India, and Alkyl Amines, experienced declines of up to 4% after the government proposed an anti-dumping duty on Pretilachlor imports from China.

Business

Petroleum and Natural Gas Rules Amended to Ease Business and Operations

Published

2 days ago

December 12, 2025

Namma Kudla

The Union Government has approved amendments to the Petroleum and Natural Gas Rules, 2025 to promote domestic exploration and production. Union Minister Hardeep Singh Puri announced the changes on Thursday. He said the revised rules will offer greater ease of doing business and smoother operational procedures for companies in the energy sector.

One of the key amendments allows for long-duration leases. The lease period has now been increased from 20 years to 30 years. It can also be extended further up to the life of the field. Officials said this long-term clarity will help companies make better investment decisions.

The rules also provide another major reform. A company that receives a petroleum lease will now have the right to carry out all types of mineral oil operations under a single lease. This replaces the earlier system that required multiple permits.

According to the Ministry, the amendments aim to strengthen infrastructure, boost exploration activities, and support India’s long-term energy needs. The government expects the updated rules to attract more investors and improve efficiency in the sector.

Business

Egg Prices Rise in Bengaluru as New Year Nears

Published

5 days ago

December 9, 2025

Namma Kudla

Egg prices in Bengaluru have increased sharply. The rate, which was ₹5 per egg a month ago, has now touched ₹7. The city is also facing a shortage in supply. Traders say that demand for eggs rises in December due to Christmas, New Year celebrations, and higher non-vegetarian consumption during winter.

Supply from Tamil Nadu has also reduced, causing further pressure on local markets. According to the Karnataka Poultry Traders Association, Bengaluru needs about 1.10 crore eggs daily, but there is a shortage of nearly 30–40 lakh eggs.

Last year’s bird flu outbreak also affected poultry farms, leading to lower production this season.

Goa has seen a similar trend. Egg prices there have increased to ₹90 per dozen, and further hikes are expected in the third week of December. Reports suggest that rates may stay high until early 2026.

Goa depends heavily on neighboring states for its supply — around 80% from Karnataka and the rest from Maharashtra. Meanwhile, gold prices too have shown an upward trend.

Business

MRPL Wins Fourth Consecutive Best Refining Innovation Award at ETM 2025

Published

2 months ago

October 29, 2025

Namma Kudla

Hyderabad, October 28, 2025:

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a leading Category-I Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas, has achieved yet another milestone. The company has won the Innovation Award 2024-25 for Best Innovation in Research & Development in Refining Technology at the 28th Energy Technology Meet (ETM 2025) held in Hyderabad.

This marks MRPL’s fourth consecutive victory at these prestigious national awards, reaffirming its position as a pioneer in indigenous innovation within India’s refining sector.

The award recognizes MRPL’s breakthrough “Gradual Olefins and Aromatic Technology (GOAT)”, an advanced Crude-to-Chemicals process developed entirely by the company’s in-house R&D team. The GOAT technology demonstrates India’s growing capability to transform crude oil directly into high-value petrochemicals, thereby improving energy efficiency, cutting carbon emissions, and contributing to the nation’s sustainable refining goals.

The award was presented by Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas. The ceremony was organized by the Centre for High Technology (CHT) at the Hyderabad International Convention Centre (HICC).

Receiving the award on behalf of MRPL were Shri Nandakumar V. Pillai (Director – Refinery), along with Chief Managers Shri Karthick R. and Shri S. Nirmal Ganesh from MRPL’s Innovation Centre.

The 28th Energy Technology Meet, themed “Green Energy Horizons: Advancing Sustainable Refining & Energy Innovation,” serves as India’s leading platform for sharing advancements in refining and clean energy technologies. Organized by CHT under the Ministry of Petroleum & Natural Gas, ETM 2025 brings together refiners, petrochemical producers, technology providers, equipment manufacturers, and service companies from India and abroad to discuss sustainable and low-carbon pathways for the energy sector.

The three-day event, held from October 28 to 30, 2025, focuses on innovations driving India’s energy transition and circular economy efforts.

Speaking after receiving the award, Shri Nandakumar V. Pillai said,

“MRPL has always been a frontrunner in adopting and developing advanced technologies. Our Innovation Centre is not only creating but also implementing breakthrough technologies like GOAT — a futuristic Crude-to-Chemicals process that many in the global refining industry are still aspiring to achieve. Winning this recognition for the fourth consecutive year reflects our team’s commitment, creativity, and technical excellence. I congratulate our Innovation Centre team and wish them continued success in future innovations.”