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South West Pinnacle Exploration rose 2.80% to Rs 225.86 after the company secured a work order worth approximately Rs 166.82 crore from Reliance Industries (RIL) for providing Coal Bed Methane (CBM) production services in Madhya Pradesh.

Titan gained on strong Q1 growth, South West Pinnacle Exploration rose after securing a Rs 167 crore Reliance contract.

India's fuel consumption fell approximately 3.7% in June from the previous month. Liquefied petroleum gas consumption saw a significant year-on-year decrease of over fourteen percent. Gasoline sales were down month-on-month but showed annual growth, while diesel consumption rose annually. Naphtha sales experienced a substantial year-on-year drop, and fuel oil usage also declined. Windfall taxes on certain fuel exports were adjusted by the government last month.

Mumbai: Indian equity benchmark indices traded higher on Tuesday amid positive global cues and crude oil prices hovering around the $70-a-barrel mark. Sensex jumped as much as 0.27 per cent or over...

Mumbai, July 7 (IANS) Indian equity benchmark indices traded higher on Tuesday amid positive global cues and crude oil prices hovering around the $70-a-barrel mark. Sensex jumped as much as 0.27 per cent or over 200 points to hit an intraday high of 78,504 in early trade, while Nifty was trading around 60 points or 0.23 per cent higher at 24,488. Sectorally, IT, banking and financial stocks led the gains. Nifty IT rose 1.28 per cent, followed by Nifty PSU Bank which gained 0.45 per cent. In contrast, Nifty Metal was the worst performer, falling 0.86 per cent, followed by Nifty Media, which declined 0.38 per cent. Nifty Chemicals and Nifty FMCG slipped up to 0.30 per cent. Among the Nifty stocks, Trent was the biggest loser, plunging 8.81 per cent, followed by Bharat Electronics (BEL) and Larsen & Toubro (L&T), which declined about 1 per cent each. Meanwhile, InterGlobe Aviation (IndiGo) fell 0.88 per cent, while Coal India slipped 0.84 per cent. According to market experts, there are distinct signs of an uptrend in the market. They noted that two factors weighing on Indian markets -- the crude price hike and sustained FPI selling -- are now behind us and have reversed. Crude prices are back to their pre-war levels, while FPIs have turned buyers. Although FPI buying is not yet a strong trend, the fact that foreign investors have stopped selling and turned buyers marks a significant shift that is likely to be sustained, supported by strong fundamentals. Technically, the Nifty's breakout above its 200-day exponential moving average (EMA) for the first time since February has strengthened the market's bullish structure, according to analysts. They expect the 24,600 level to act as the immediate resistance, with a sustained move above it potentially paving the way towards 24,800, while the 24,400-24,300 zone is likely to provide near-term support. International benchmark Brent crude rose about 1 per cent to $72.77 a barrel. Similarly, US West Texas Intermediate (WTI) crude gained 1.12 per cent to $69.32 a barrel. --IANS ag/

Cochin Shipyard Share Price: The government is selling up to 5 per cent stake in Cochin Shipyard at a floor price of Rs 1,400 per share through an offer for sale beginning today.

Reliance Industries Limited has extended its Coal Bed Methane production contract with South West Pinnacle Exploration. This awarded work is expected to generate revenue from the second quarter of FY 2026-27. South West Pinnacle Exploration also received a separate contract from CMPDI for exploration services. This pact valued at Rs 5.89 crore will strengthen SWPE's order book. The exploration work is scheduled for completion within 180 days.

India faces a dual challenge of reduced power generation from wind turbines and hydropower, along with declining wind speeds and rainfall associated with El Niño. Rising electricity demand, combined with higher temperatures, could drive increased demand for power-hungry air conditioning, according to a report by the Centre for Research on Energy and Clean Air (CREA). Additional cooling demand could total as much as 10 TWh within a year—the equivalent of a quarter of Delhi's annual electricity use. CREA's research shows that, when combining the loss of renewable energy output with increased power demand, India could face a generation gap of nearly 18 TWh. Currently, the most likely outcome is a surge in coal-fired power generation, which would release an estimated 17 million tonnes of CO2. In the most severe scenario, additional coal-fired generation could reach 24 TWh, roughly half of India's entire increase in coal generation last year. "India has just endured a deadly heatwave and one of its hottest summers on record, pushing power demand to an all-time high of 270 GW. India must stay on track to achieve its target of 500 GW of non-fossil power by 2030, while also moving much faster on battery deployment and grid upgrades so that clean energy can meet future surges in power demand reliably and affordably," said Nandikesh Sivalingam, Director, Centre for Research on Energy and Clean Air (CREA). Solar Meets 24% of Daytime Power Demand, Reduces El Niño Affect The study noted that solar power now meets 24% of daytime power demand and is far less affected by El Niño. This means every additional solar panel and battery installed in India helps future-proof the grid against extreme weather events such as El Niño. According to the report, India added 44.6 GW of solar capacity last year, almost double the amount added the previous year. This contributed to a 1% increase in total electricity generation in 2025. Meanwhile, coal generation declined by 4%, while renewable energy output grew by 22%. The trend has continued into 2026, with thermal generation between January and May remaining below its 2024 level even as demand reached a record high and solar generation increased by nearly one-third. The 2026 El Niño serves as a foretaste of the extreme weather events that are becoming more common in a warming world. With El Niño occurring every two to seven years, the extent to which India can meet or exceed its solar and energy storage deployment targets will be a key measure of grid resilience. Record demand peaks, such as the 270 GW recorded in May, are routinely cited to support the case for new coal-fired power capacity . However, India's coal-fired power plants face significant challenges in keeping pace with the changing demand curve and operating with the flexibility the grid requires throughout the day. As a result of this inflexibility, grid operators curtailed around 2.1 TWh of solar and wind generation last year to keep coal-fired power plants running. Burning more coal would carry a heavy toll for India, resulting in higher levels of air pollution and more extreme heat. This super El Niño is expected to cause around 2,700 additional heat-related deaths in India during 2026–27, the second-highest total after Indonesia.

Delhi EV policy launched "to curb vehicular pollution and accelerate transition towards clean mobility."

Stock Market News: Benchmark indices opened with gains on positive global cues, though fresh tensions in the Strait of Hormuz limited the market's upside.