OMCs BPCL

Public sector oil marketing firm BPCL on Friday said it has set up a biofuel blend High Flash High-Speed Diesel (HFHSD) bunker at Mumbai Port. The facility, the first-of-its-kind by an OMC in the country, provides shipping companies with a cleaner, biodegradable alternative to traditional fuels, Bharat Petroleum Corporation Ltd (BPCL) said in a statement. This initiative not only supports environmental sustainability but also strengthens BPCL's position as a leader in the Indian bunkering market, it added. It also aligns with the global mandate to decarbonise the shipping sector apart from one of many green initiatives by the company, BPCL said. "Our Project Aspire, with its focus on green energy, is driving our efforts towards a cleaner future. This biofuel blend bunker is a significant step in that direction and positions BPCL as a global bunkering leader," said Sukhmal Jain, Director (Marketing) at BPCL. The company's foray into biofuel blends is part of a broader strategy to .

SRF has given trend line breakout on daily chart and holding well above the same.

According to HPCL, India's ambitious goal of expanding road connectivity, manufacturing, and construction activities is expected to support economic growth and further drive oil consumption in India.

NTPC, Power Grid contributed over 100 points to the BES Sensex so far; while, heavyweights HDFC Bank, Reliance and ICICI Bank were the chief laggards.

Technical charts suggest that Paytm is likely to trade with a favourable bias; while others may display a subdued trend in the near-term.

Analysts said BPCL reported a robust performance in the June quarter (Q1FY25) despite a challenging environment.

Drop in crude oil prices and a bumper profit in Q2 has fuelled the rally so far in oil marketing companies.

The move is also sentimentally negative for OMC stocks as investors fear that price cuts on petrol and diesel could be next in line ahead of the assembly and general elections

OMC stocks are displaying bearish sentiment, if fails to hold key supports then could enter medium-term selling bias.

Fitch ratings have said that announcements of plans to raise equity capital by BPCL and IOC should strengthen their capex spending and the credibility of their emission-reduction plans.

OMC stocks like BPCL, HPCL are better placed on the charts; decisive move over their key hurdles could see next leg of upside

Stocks like Bharat Petroleum Corporation and Hindustan Petroleum Corporation linger in bear territory

BPCL, HPCL, and IOC have corrected up to 22 per cent since their highs of July.

IOC said it has resumed work on 64 select projects with a combined allocation of about Rs 21,375 crore

It is being speculated that the Union Cabinet may take up a proposal to privatise BPCL as early as next week.

Last week, international credit rating agency Moody's warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1, if the government goes ahead with privatisation.

India is considering a plan to sell the nation's second-largest state refiner and fuel retailer to a global oil company, Bloomberg reported

Thus far in the calendar year 2018, HPCL (down 42%), BPCL (down 36%) and IOCL (down 24) have slipped more than 20% against 10% rise in the S&P BSE Sensex.