DOMESTIC FUEL ALTERNATIVE
India may be best placed to fill a China-sized hole in fuel exports
India could emerge as a key swing supplier of refined fuels as China suspends October exports, helped by recovering Middle Eastern crude imports and lower Indian fuel-export taxes. With large refining capacity and an export-oriented industry, Indian refiners may be able to step up diesel, petrol and jet-fuel shipments to Asian markets facing tighter supplies.
Defence stocks: Time to change strategy in a bearish market? An ecosystem with down and upside potential of -39% to plus 37%
The current fall is both at the level of the indices and the broader market. And when the selling is this broad, almost every sector is affected. But they do not all feel it equally, and it is worth knowing why every sector behaves differently at different points of time. Stock Reports Plus, powered by Refinitiv, is a comprehensive report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. The simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
Trump’s diesel squeeze may put Indian refiners in a sweet spot, and a bind
A potential US diesel export ban could worsen an already tight global fuel market by removing about 1.2 million barrels a day of supply at a time when Middle Eastern, Russian and Chinese exports are constrained. Europe would be particularly exposed, while India could gain export opportunities for its refiners but also face higher crude and domestic fuel costs as global buyers compete for scarce diesel.
ETMarkets Smart Talk: Rupee under pressure, inflation sticky: Will RBI be forced to rethink rates? Ankita Pathak, Ionic Asset
With the Fed entering a tightening cycle, India faces a tougher monetary policy trade-off as the rupee remains under pressure and inflation shows signs of broadening. Ankita Pathak of Ionic Asset says RBI’s policy flexibility could narrow, while elevated US yields and a stronger dollar may weigh on Indian equities and capital flows.
Ashok Leyland: A stronger balance sheet inside a business that will always remain cyclical
Quarterly numbers tell you what happened. But they do not always tell you why it happened. In commercial vehicles, demand can change because of many reasons: Interest rates, freight movement, regulation, vehicle utilisation, or simply the age of the fleet. This story looks at the factors that matter most for Ashok Leyland and uses the numbers to show how each one affects the business.
India's commercial vehicle market just had its best year in seven. Then the June quarter arrived, and margins fell
There is, at this point, an apparent contradiction at work in the Indian commercial vehicles space. One: FY 2026 was the best of the last seven years. A tax cut saw prices of trucks drop by about 10%, releasing pent-up replacement demand in a fleet with an average age of about 10 years. Two: Although the sector's second-largest truck maker sold a record number of vehicles in the June quarter, adding 10% to revenue, the benefits did not flow in. Rising material costs swallowed the operating leverage.
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Iran readies harder retaliation if attacked as diplomacy faces long odds
Iran is intensifying its military response planning amid fears of US military escalation in the region. Senior commanders are considering broader targets beyond US-linked assets in their strategic discussions. Diplomatically, Iran has proposed a plan through Qatari mediators to halt fighting and resume oil exports. Economic pressures and fears of unrest within Iran complicate the situation for the leadership.
Where Does China Fit in Your Company’s Innovation Strategy?
For decades, multinationals treated China primarily as either a vast growth market or a rising competitive threat. But as growth slows, competition intensifies, and operating conditions become more difficult, many firms are rethinking China’s role. Increasingly, they are using the country not just as a destination market but as a platform for accelerating innovation—leveraging its fast-moving regulatory environment, tightly integrated R&D and manufacturing ecosystems, and deep engineering talent pools to speed learning, validate technologies, and scale capabilities globally. Companies including Pfizer, Michelin, BMW, Bosch, and Nvidia illustrate how firms are using China to shorten innovation cycles while managing geopolitical and operational risks by defining China’s precise role within their global innovation system, designing for controlled knowledge-sharing, and avoiding overdependence through diversified R&D and supply chains.
ET Prime Special Series: Multibagger or IBC - Part 78: A tech company hiding inside an auto-parts maker. But with a weak spot
This is one of the most exciting businesses in the sector: A technology company disguised as an auto-parts maker, growing fast, earning exceptional returns, and generating real cash. It is also one of the most concentrated. A single buyer accounts for roughly three-quarters of its sales, and a single type of component for roughly three-quarters of its material costs. The upside is obvious. The fragility is the part investors have to weigh.
India has ‘insulated' itself from the 'turbulence' of crude supply shock: Hardeep Singh Puri
Union minister Hardeep Singh Puri said India has so far insulated itself from crude oil and natural gas supply disruptions caused by the West Asia crisis and Strait of Hormuz volatility. He said logistics remained the key challenge, while India has diversified crude sourcing to 41 countries and strengthened domestic LPG production.
India's Russian crude imports fall to five-month low as refiners diversify supplies
India's crude oil landscape shifted in September as imports from Russia plummeted to their lowest since April, prompting refiners to seek alternatives. Despite this drop, overall crude imports surged, bolstered by robust refinery activity and rising fuel requirements. Increased supplies from Iraq and Saudi Arabia have effectively offset the reduction of Russian crude. This scenario underscores the flexibility of Indian refiners to navigate geopolitical uncertainties and evolving market demands.
Natural gas defies energy shock as strong supply keeps prices in check
Despite crude oil volatility from West Asian geopolitical tensions, natural gas prices remain contained around $2.50-$3.50/MMBtu. Record US production of 110.6 Bcf/d, strong non-Gulf LNG output, and weak Asian demand have offset Strait of Hormuz supply disruptions, maintaining a mild bearish bias for Henry Hub.
The most uncertain sector also pays the most to wait. Watchlist for patient investors: 5 stocks with upside potential of up to 25%
There are some interesting contrarian bets in the market. But going contrarian, or buying what everyone else is running away from, is not to be done casually. Done wrong, it is just recklessness. It becomes a sensible move only when there is a solid, logical reason behind it. So, the real question is not whether some companies are beaten down. The question is whether there is a good reason to buy them anyway.
Nearly 7 billion litres without a market: Ethanol glut in India fuels search for new buyers
India’s ethanol industry is deluged with severe oversupply, with nearly 7 billion litres of capacity without a clear market. Installed capacity has reached about 20 billion litres, while E20 blending needs around 11 billion litres and non-fuel sectors consume another 3–3.5 billion litres.
Nitin Gadkari says plain sugar's future not bright: After E20, transport minister wants sugar mills to produce a gas that can be used in CNG vehicles and fuel that can power aircrafts
Nitin Gadkari news: Nitin Gadkari has highlighted the importance of sugar mills diversifying into producing compressed biogas and ethanol. He mentioned that value-added by-products could enhance farmers' incomes significantly. The minister noted that converting sugarcane waste into usable products could reduce fossil fuel imports. A government scheme aims to significantly increase India's CBG production in the coming years. Furthermore, this initiative could create millions of jobs and boost the rural economy over time.
India ramps up LPG output as festival season begins
India’s state-owned refiners have raised domestic LPG production to around 44,000 tonnes a day as festive-season demand rises and renewed conflict in the Persian Gulf disrupts contracted supplies. Production is nearly 20% higher than the August average, while refiners are also exploring increased US LPG purchases to diversify supplies. The US has already emerged as India’s largest LPG supplier, with its share of imports rising above 20% from 6% last year.
Auto retail sales rise 20% as GST cut boosts affordability
At Maruti Suzuki, passenger vehicle sales grew nearly 36% year-on-year between April and August 2026, with the entry-level segment surging over 96%. Hyundai Motor India echoed the trend.
From Maruti to Mahindra, top industry execs say GST 2.0 changed the demand equation
Passenger vehicle demand surged after GST rationalisation, boosting Maruti Suzuki's sales significantly. Mahindra & Mahindra also reported strong growth across its vehicle segments. Improved affordability brought many new buyers into the automotive market. This tax adjustment has driven overall auto retail growth and market expansion. Manufacturers are now accelerating capital expenditure plans due to this positive trend.
Global Market: Diesel prices surge to record highs as wars squeeze global fuel supplies
Global diesel markets are facing mounting supply pressures as refinery outages, export curbs and shipping disruptions reduce availability across Europe, the US and Asia. With inventories below seasonal norms and refineries already running at high utilisation rates, further disruptions could leave fuel markets vulnerable to sharper price increases.
India needs multi-route energy strategy as West Asia tensions threaten supplies: Experts
Growing West Asian tensions expose India's energy supply vulnerabilities. Experts urge a multi-route strategy and diversified crude and gas suppliers. Expanding storage and port infrastructure is also crucial for national energy security. Alternative routes and logistical options are needed to maintain supplies during crises. India must build resilience through reserves and flexible refining capacity.
Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge
India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes protecting India's electronic payment ecosystem sovereignty.
The mood, as per Moody's: Shocks keep coming, India keeps growing
Moody’s has raised India’s FY27 real GDP growth forecast to 7% from 6%, citing the economy’s resilience amid the Middle East conflict and elevated energy prices. Strong domestic consumption, investment, manufacturing and services are supporting growth, though higher oil prices, inflation, US tariff risks and food-price pressures remain concerns.
View: As oil tops $100, India needs a wider, smarter fuel security strategy
Rising oil prices necessitate energy supply diversification and alternate fuel adoption. India is urging the auto industry for flexi-fuel vehicle timelines and promoting ethanol blending. Exploring iso-butanol and methanol blending offers further emission reduction and import substitution. Second-generation biorefineries are crucial for scaling up compressed biogas production. Strategic oil reserves and domestic exploration are also vital for energy security.
No US pressure in UPI MDR decision; NPCI circular offers no advantage to foreign credit cards: FinMin
The Department of Financial Services (DFS) issued the clarification in response to observations in the US Trade Representative's (USTR) 2026 report on the inability of US electronic payment service providers to participate in the UPI ecosystem, including credit transactions on UPI, on a level playing field with RuPay.
LNG gets too hot for Asia at $26, but India keeps buying
Asian LNG demand is projected to decrease this year, with Northeast Asia seeing the largest drop. India and Bangladesh continue to secure spot LNG cargoes despite significant price increases. High fuel costs are impacting energy-intensive industries in China, reducing their output. India's city gas and fertilizer sectors will predominantly support its LNG demand. Global supply recovery and Europe's inventory needs will influence future LNG prices.
At Texas’ Panther Creek III, blades from 133 turbines were repurposed in cement kilns as the wind farm’s capacity rose from 199.5 MW to 215 MW
Wind turbine blades, made of non-recyclable fiberglass, pose a significant waste challenge. A West Texas wind farm utilized cement kilns for blade disposal, diverting waste from landfills. This process uses ground blades as fuel and raw materials within the kilns. European countries have already banned landfilling wind turbine blades due to disposal issues. This method represents downcycling, offering a viable solution for nearby wind farms.
Jalgaon man built a cheaper-than-LPG smokeless kerosene stove that generated 8 hours of flame from 2 litres that cost just Rs 15 per hour
Sarfuddin Kazi, a machinist from Jalgaon, Maharashtra, developed a kerogas stove after studying the working of a petromax and looking for a safer, quieter and more fuel-efficient alternative to conventional stoves. He built the first prototype in 1992 after years of experimentation. The stove could burn for up to eight hours on two litres of kerosene and also provide light.
PVs drive auto sales to record August high as India gears up for festive season
India's automobile sector achieved its highest-ever August sales across multiple vehicle categories, SIAM said. Robust consumer demand and resilient rural markets fueled this significant industry growth. Passenger vehicle domestic sales saw a sharp increase, reaching record levels for the month. Three-wheelers and two-wheelers also posted strong year-on-year growth figures. Automakers anticipate continued firm consumer demand ahead of the festive season.
Natural gas imports rise despite price surge
India's natural gas imports are increasing despite higher prices this fiscal year. Demand is boosted by subsidized fertilizer and growing CNG vehicle sales. Limited alternative fuel supply and falling domestic production also contribute to this trend. Recent surges in spot LNG prices may impact future demand and consumer choices. The fertilizer sector remains the largest driver of these growing import volumes.
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