IndianOil gains bulk diesel market share in April-May, beats Reliance Industries and Nayara
IndianOil has jolted the bulk diesel market, increasing its share by 10 percentage points in April-May and wresting ground from
Reliance Industries
and Rosneft-backed Nayara Energy-a striking reversal driven by new chairman A S Sahney's break from predecessor SM Vaidya's margin-first playbook in favour of market dominance.
IndianOil's share surged to 53.5per cent in April-May this year, up from 43.6per cent in the same period last year, forcing private sector rivals RIL and Nayara to surrender a combined 7 percentage points from their last year's share of 25.7per cent . RIL's share dropped to 9.9per cent from 13.8per cent , while Nayara's fell to 8.7per cent from 11.9per cent . Among state-run firms,
Hindustan Petroleum
's share contracted to 12.9per cent from 14.2per cent and
Bharat Petroleum
's declined to 12.5per cent from 14.8per cent .
IndianOil is using aggressive price discounts to boost volumes and push competitors aside, multiple industry executives said. Lower crude prices-currently around $65 per barrel, down from nearly $80 in January-have fattened oil companies' margins, enabling them to offer steeply discounted diesel to large customers. While all suppliers are offering diesel to bulk buyers below pump prices, some are going deeper to gain market share, they said.
IndianOil has traditionally dominated diesel sales, but its market share slid to 43.6per cent in April-May 2024, down from 52per cent in the same period of 2023 and 60per cent in 2022. "As a marketing organisation, you can't afford to lose market share so rapidly. One day, you might suddenly find too much volume sitting in your refinery, hurting profits and limiting your ability to invest," said an industry executive defending the company's aggressive push.
Roughly 12per cent of the diesel sold in India goes to bulk buyers, with the rest sold through petrol pumps. Bulk consumers such as the railways, defence and state transport corporations usually pay contracted prices discovered through tenders, while miners, manufacturers and smaller users typically buy on a monthly basis-shifting to whichever supplier offers the steepest discount.
IndianOil's recent gains are concentrated among miners, manufacturers and some transporters, with strong traction in the mining belts of Jharkhand, West Bengal and Chhattisgarh, as well as in Rajasthan, Haryana and other states.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Reliance sells 3.6% stake in Asian Paints in Rs 7,700 crore deal
MUMBAI: Reliance Industries on Thursday said that its subsidiary, Siddhant Commercials, had sold 3.5 crore equity shares of Asian Paints on the NSE at a price of Rs 2,201 per share. The entire block of Asian Paints stock, representing 3.6 per cent of the company's equity, was purchased by SBI Mutual Fund , as revealed by a large deal disclosure on the NSE website. The block was sold for nearly Rs 7,704 crore. RIL still holds 87 lakh Asian Paints shares, as stated in disclosures to the exchanges. According to Asian Paints' shareholding pattern as of March 31, 2025, Siddhant Commercials was holding nearly 4.7 crore shares of the paints major, representing 4.9 per cent of the equity. In Thursday's weak market, RIL's stock price closed 0.6 per cent lower, while Asian Paints shares closed 0.4 per cent up. It was earlier reported that RIL bought the stake in the paints major in 2008 for about Rs 500 crore. As of March 2025, the promoters held a 52.6 per cent stake in Asian Paints, while domestic institutions held nearly 15.6 per cent and foreign institutions 12.2 per cent. Among the institutions, LIC held the biggest stake in the company, at 8.3 per cent. Two mutual funds - SBI MF at 1.5 per cent and ICICI Prudential MF at 1.2 per cent - also held small chunks in the company, as shown in disclosures on BSE. Retail investors held 11.8 per cent in the company.
India.com
5 hours ago
- India.com
Mukesh Ambani sells 3.50 crore shares in…, earns Rs 77030000000, stocks were bought by…
Reliance Industries, led by Mukesh Ambani, divested a 3.64% stake in Asian Paints on Thursday, with SBI Mutual Fund acquiring the shares for Rs 7,703 crore in an open market transaction. According to block deal data from the National Stock Exchange (NSE), Reliance Industries, through its affiliate Siddhant Commercials Pvt Ltd, sold 3.50 crore equity shares representing the 3.64% stake in the company. The shares were disposed of at an average price of Rs 2,201 apiece, taking the transaction value to Rs 7,703.50 crore. After the stake sale, RIL arm Siddhant Commercials' shareholding in Asian Paints dipped to 1.26 per cent from 4.90 per cent. With the acquisition of shares, SBI Mutual Fund's shareholding in Asian Paints rose to 5.15 per cent from 1.51 per cent. Shares of Asian Paints went up 0.73 per cent to close at Rs 2,225 apiece on the NSE. 'Please note that 3.50 crore equity shares of Asian Paints held by Reliance Industries Limited through Siddhant Commercials Limited have been sold today at a price of Rs 2,201 per share, leaving a balance of 87 lakh equity shares of Asian Paints,' RIL mentioned in a regulatory filing. RIL had bought a 4.9% stake in Asian Paints via its subsidiary for Rs 500 crore during the global financial crisis and the collapse of Lehman Brothers in January 2008. According to media reports Asian Paints shares fell down by 30% in the past 2 years. (With Inputs From PTI)
Economic Times
10 hours ago
- Economic Times
Hyphenating US-Pak: Doing business with gunmen
Howdy, phenomenal pardners! Michael Kurilla (left) & Asif Munir, Florida, 2023 The Trump regime's reported invitation to Pakistan Army chief Asim Munir to attend the 250th US Army Day celebrations in Washington tomorrow has stirred various vectors of speculation. Chief among them: Potential reset in US-Pakistan relations. Pakistan's prospective utility within an emergent Trump doctrine that views bilateral ties primarily through an economic lens. Revival of a counterterrorism partnership between Islamabad/Rawalpindi and Washington. Implications of such a warming of US-Pakistan ties on US-India relations. In New Delhi, this apparent shift in Washington's posture has come as a surprise. What is even more startling is the timing - coming on the heels of India's retaliation against Pakistan for its involvement in the Pahalgam terrorist attacks on civilians. A significant part of Trump's appeal among Indians, both in India and the diaspora, stemmed from his tough stance on terrorism. During Trump 1.0, he publicly called out Pakistan's duplicity in his very first tweet of 2018, accusing it of 'lies and deceit' while receiving billions in US aid. He subsequently cut $300 mn in aid to Pakistan, a move that built on the Obama administration's earlier decision to withhold one-third of all military assistance to the country. During Trump 2.0, consistent with his recalibrated approach toward various global actors, the US president has markedly diverged from his earlier stance, Pakistan being no exception. In February, the Trump regime departed from its broader aid-cutting policy to authorise $397 mn in security assistance to Pakistan. This was specifically aimed at supporting a US-backed programme for maintenance and technical support of Pakistan's F-16 fighter the assistance explicitly stated that it was not to be used for operations against India, reopening of funding channels to Pakistan signalled a broader trend of policy reversal. In March, Trump publicly thanked Pakistan for its assistance in the arrest of Mohammad Sharifullah, a suspect linked to multiple terrorist attacks, including the 2021 Abbey Gate bombing in recently, Trump's consistent attempts to place Pakistan on equal footing with India, particularly following the India-Pak military escalation in May, appear driven by strategic reinforcing this shift, US Centcom chief Michael Kurilla referred to Pakistan as a 'phenomenal partner' in counterterrorism efforts. Similarly, Paul Kapur, Trump's incoming assistant secretary of state for South and Central Asian affairs, affirmed that the US would 'pursue security cooperation where it is beneficial to US interests while seeking opportunities for bilateral collaboration in trade and investment'. Together, these moves reflect a deliberate and coordinated strategy for renewed strategic engagement with apparent rapprochement between the US and Pakistan may be driven largely by Trump's personal inclinations, and a possible desire to secure future economic deals. For Pakistan, warming ties with Washington represent a strategic gain, however temporary. Any signs of improving relations between Islamabad/Rawalpindi and Washington stand in sharp political contrast to the stance of former PM Imran Khan and his supporters in Pakistan Tehreek-e-Insaf (PTI).Khan had accused the US of orchestrating the fall of his government, and maintained that he would never have agreed to American demands for military bases in his country. If PTI continues to remain a significant political force, any future US requests for enhanced military presence - even under the guise of counterterrorism - are likely to face resistance. Conversely, if Trump intensifies efforts to strike an economic deal with Pakistan, the resulting political reverberations within the country could become even more tough posture during his first term - marked by launching a trade war with China, pursuing a 'maximum pressure' strategy against Iran culminating in the killing of Iranian general Qasem Soleimani, and publicly calling out countries like Pakistan for sponsoring terrorism - is now giving way to a policy of modus vivendi, driven by an outsized prioritisation of US interests, particularly economic US-China economic deal reportedly 'finalised' on June 11 underscores this clear shift in US diplomacy - one that increasingly sidelines concerns of Washington's allies, partners and friends. While this approach may serve immediate US interests, especially in economic terms, it risks prompting a strategic recalibration by other nations in how they engage with the the shadow of recent military escalation between India and Pakistan, Pakistan's detente with the US may present an opportunity for Trump. But the strain this reset places on India-US relations could prove detrimental to both countries in the long run. The divergence between New Delhi and Washington is now most pronounced on the issue of Pakistan and, more broadly, on India has strongly reaffirmed its zero-tolerance stance against terrorism following the Pahalgam attack, the Trump regime appears increasingly willing to engage Pakistan as a counterterrorism partner. In doing so, Trump seems to be prioritising unilateral US interests over shared strategic concerns that have long underpinned the India-US partnership. Unlike his first term, when Trump's South Asia policy broadly aligned with the US-India strategic convergence, his bilateral bets in his second gig risk further destabilising an already fragile region. (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. How a nudge from Cyrus Mistry helped TCS unlock a USD1 billion opportunity Explainer: The RBI's LAF corridor and its role in rate transmission Is Zomato under siege? Quick commerce may be the next telecom Operation Sindoor, Turkey, Bangladesh played out as India hosted global airlines after 42 years Coal on one hand and green on the other; this company balances both Stock Radar: Bandhan Bank stocks break out from 1-month consolidation; what should traders do? Check target & stop loss Combination of strong brand & higher margins equals long-term investment: 5 stocks with an upside potential of up to 23% Two Trades for Today: A PSU energy major for 7.5% rise, a large-cap refinery stock for close to 6% upmove These mid-cap stocks with 'Strong Buy' & 'Buy' recos can rally over 25%, according to analysts
