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India Today
4 days ago
- Business
- India Today
Indian refiners hit pause on Russian oil imports after 50% tariff blow: Report
Indian refiners are slowing down their purchases of Russian oil, as pressure grows from the United States after President Donald Trump announced 50% tariffs on Indian exports, reported move is seen as a response to India's continued imports of Russian crude despite global sanctions against like Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have decided not to buy Russian oil on the spot market in the upcoming buying cycle. The decision affects purchases of Russia's Urals crude for cargoes loading in familiar with the matter told Bloomberg that the refiners are waiting for clear guidance from the government before placing new orders. These people did not wish to be named as they are not authorised to speak to the PURCHASES ON HOLD, TERM CONTRACTS MAY CONTINUEWhile India has not officially ordered refiners to stop buying Russian oil, the government is reportedly reviewing the situation. As per Bloomberg, state-run refiners have already been asked to draw up alternative plans that focus on sourcing crude from non-Russian oil deals, especially outside long-term contracts, are usually finalised one-and-a-half to two months in advance. This gives refiners time to secure supplies in line with their future now, purchases of Urals crude set to load in August and September are expected to go ahead as planned unless the Indian government advises otherwise. Some cargoes have already been delivered to Indian ports, although a few shipments were slightly ADD TO SUPPLY UNCERTAINTYThe spotlight is now firmly on India's oil import choices after Trump doubled tariffs on Indian exports to 50%. This sharp increase is meant to punish New Delhi for continuing oil trade with Moscow, according to the US administration. The US has not made a similar move against China, another major buyer of Russian development has caused uncertainty in global oil markets. Brent crude prices were steady at around USD 67 per barrel on Thursday, after falling for five consecutive days. Traders are watching to see if there will be any large disruptions to oil flows and whether Russia can find alternative buyers for its LOOKS FOR ALTERNATIVESIndia had increased Russian oil imports after the Ukraine war started, rising from nearly zero to more than 2 million barrels per day at its peak. Now, that figure may fall as refiners hesitate to place fresh expect that any fall in Indian demand for Urals crude could lead to deeper discounts from Russia and possibly more offers to China, which doesn't usually buy large quantities of this variety. At the same time, Indian refiners may look towards the US, the Middle East, and African countries to make up for the refiners such as Reliance Industries and Nayara Energy have also been quiet lately. Nayara, in particular, has been dealing with reduced production due to European Union sanctions. Meanwhile, state-owned refiners have started issuing tenders to buy oil from non-Russian SUPPLIES COULD BE REPLACED BY MIDDLE EAST CRUDER. Ramachandran, former Director of Refineries at Bharat Petroleum, told Bloomberg that any short-term disruption can be managed. 'There would be some operational disruptions for a period, but the crude supply-demand would balance out,' he added that the Middle East offers both proximity and variety in crude oil types, making it a natural alternative for Indian refiners. 'Middle East cruses, with the geographical advantages and a wide range of quality, will be a prime substitute, especially from Saudi and Iraq,' Ramachandran late July, Indian refiners already began reducing purchases of Urals crude due to higher prices. Since then, they have turned to other regions, soaking up spot cargoes at better rates.- EndsMust Watch advertisement
Economic Times
5 days ago
- Business
- Economic Times
India sees IPO surge ahead of key financial disclosure deadline
Indian companies are accelerating their IPO plans. They aim to attract global investors before August 12. This deadline relates to using March quarter financials in IPO filings. Liquidity and tariff concerns are driving this surge. Several companies have already raised significant capital. More IPOs are expected, potentially exceeding last year's record. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indian companies are making a last-minute dash to the public markets, aiming to attract global investors before a key than a dozen Indian companies have either launched or announced initial public offerings worth 187 billion rupees ($2.1 billion) in the two-week run-up to the Aug. 12 deadline, according to data compiled by cutoff is the last day companies can use their audited financials from the March quarter in IPO filings, a critical detail for many overseas rules allow the use of financials in IPOs that are up to 180 days old, but stricter U.S. Securities and Exchange Commission guidelines cap that at 135 days. Foreign investors prefer or require audited financial statements in the IPO prospectus before committing capital, investment bankers this quarterly IPO rush is routine, companies have had extra motivation this time — thanks to ample liquidity and concerns about a potential slowdown in coming weeks. With US President Donald Trump threatening to raise tariffs on Indian exports, many firms appear eager to lock in relatively high valuations while market conditions remain rush is being driven by factors, including seasonality and ample liquidity in the market, according to Prakash Bulusu, joint CEO at IIFL Capital . However, 'volatility in secondary markets, triggered by US tariff concern,s may slow issuances,' he said. The next IPO wave may kick off from mid-to-late September, in the lead-up to the festive quarter, Bulusu ten companies, including National Securities Depository Ltd., Aditya Infotech Ltd., Brigade Hotel Ventures Ltd., have collectively raised over 97 billion rupees ($1.1 billion) between July 25 and August 1, according to data compiled by deals are on tap this week, with Knowledge Realty Trust REIT, JSW Cement Ltd., All Time Plastics Ltd. and Highway Infrastructure Ltd. aiming to raise over 90 billion rupees ($1 billion) companies have raised approximately $7.28 billion through IPOs from January through July, according to data compiled by Bloomberg. They are expected to raise another $18 billion in the second half of 2025, according to Jefferies Financial Group. If that materialises, total fundraising could surpass last year's record of $21 the upcoming big-ticket offerings expected in the second half, Tata Capital Ltd. is targeting a $2 billion raise, while the Indian unit of South Korea's LG Electronics Inc. is planning a billion-dollar IPO.'India's IPO momentum is underpinned by strong domestic liquidity, macro resilience, and a deep deal pipeline,' said Gaurav Sood, managing director of equity capital markets at Avendus Capital. 'We expect over 10 IPOs north of $1 billion by year-end. The market has the depth to absorb them.'
Time of India
5 days ago
- Business
- Time of India
India sees IPO surge ahead of key financial disclosure deadline
Bloomberg Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian companies are making a last-minute dash to the public markets, aiming to attract global investors before a key than a dozen Indian companies have either launched or announced initial public offerings worth 187 billion rupees ($2.1 billion) in the two-week run-up to the Aug. 12 deadline, according to data compiled by cutoff is the last day companies can use their audited financials from the March quarter in IPO filings, a critical detail for many overseas rules allow the use of financials in IPOs that are up to 180 days old, but stricter U.S. Securities and Exchange Commission guidelines cap that at 135 days. Foreign investors prefer or require audited financial statements in the IPO prospectus before committing capital, investment bankers this quarterly IPO rush is routine, companies have had extra motivation this time — thanks to ample liquidity and concerns about a potential slowdown in coming weeks. With US President Donald Trump threatening to raise tariffs on Indian exports, many firms appear eager to lock in relatively high valuations while market conditions remain rush is being driven by factors, including seasonality and ample liquidity in the market, according to Prakash Bulusu, joint CEO at IIFL Capital . However, 'volatility in secondary markets, triggered by US tariff concern,s may slow issuances,' he said. The next IPO wave may kick off from mid-to-late September, in the lead-up to the festive quarter, Bulusu ten companies, including National Securities Depository Ltd., Aditya Infotech Ltd., Brigade Hotel Ventures Ltd., have collectively raised over 97 billion rupees ($1.1 billion) between July 25 and August 1, according to data compiled by deals are on tap this week, with Knowledge Realty Trust REIT, JSW Cement Ltd., All Time Plastics Ltd. and Highway Infrastructure Ltd. aiming to raise over 90 billion rupees ($1 billion) companies have raised approximately $7.28 billion through IPOs from January through July, according to data compiled by Bloomberg. They are expected to raise another $18 billion in the second half of 2025, according to Jefferies Financial Group. If that materialises, total fundraising could surpass last year's record of $21 the upcoming big-ticket offerings expected in the second half, Tata Capital Ltd. is targeting a $2 billion raise, while the Indian unit of South Korea's LG Electronics Inc. is planning a billion-dollar IPO.'India's IPO momentum is underpinned by strong domestic liquidity, macro resilience, and a deep deal pipeline,' said Gaurav Sood, managing director of equity capital markets at Avendus Capital. 'We expect over 10 IPOs north of $1 billion by year-end. The market has the depth to absorb them.'
India Today
20-05-2025
- Business
- India Today
No booze, no cigarettes: China orders officials to cut costs amid economic strain
In an effort to cut government spending, China has asked its officials to reduce their spending on travel, food and office space. The effort is being seen as a measure by Xi Jinping and the Communist party to improve the economic conditions and reduce stress on the government's ailing notice issued to officials by the government and the ruling Communist Party covers spending on receptions, alcohol and cigarettes, according to the official Xinhua News Communist government in China has called for strict diligence and thrift, asking officials to be careful while spending government resources and directing officials to reduce extravagance, calling 'waste' a shameful act and the economy 'glorious'.China has, in recent times, faced a drop in revenue from land sales and local governments reportedly face a huge debt President Xi's drive against corruption and display of wealth, the government instructed its officials to 'get used to belt-tightening' in late year, Beijing kicked off its largest effort in years to address risks from local-authority debt, a move aimed at cutting default risks and giving local governments room to support economic growth, reported rules amount to a reiteration of Xi's campaign for officials to cut spending as a drop in revenue from land sales limits budgets and local governments confront a huge debt Monday, the Consumer Staples stocks were the biggest losers amongst the benchmark CSI 300 Index's subgroups, going down by 1.4%, while Kweichow Moutai Co. and Luzhou Laojiao Co. falling by 2.2% and 2.6%, respectively, the Bloomberg report Qi, a member of the Communist Party's powerful seven-member Politburo Standing Committee, also told cadres in Hebei province on Saturday to curb 'extravagant eating and drinking,' according to the official Xinhua News launched a campaign to cut costs shortly after coming to power in 2012, as part of a broader effort to root out government this year's legislative meetings in March, as officials pledged to boost the economy by providing more financial support to the people, the campaign was InTrending Reel
