WINDFALL GAIN
Heat-trapping carbon pollution drops, but scientists cite the Iran war rather than energy progress
This year, global carbon emissions fell by 0.4%, driven by oil supply disruptions from the conflict in Iran. While oil and natural gas emissions experienced notable declines, there was a small uptick in coal emissions. Experts caution that these improvements may not be guaranteed, attributing them primarily to external influences.
India opens special deepwater oil, gas bidding round, offers to fund up to 50% of well costs
India is launching a special licensing round for deepwater and ultra-deepwater oil and gas blocks under its ₹84,084 crore Samudra Manthan offshore exploration scheme. The government will offer monthly bidding windows and fund up to 50% of eligible exploratory drilling costs, aiming to attract investors, accelerate offshore exploration, unlock hydrocarbon reserves and reduce India's dependence on imported oil and gas.
Trump's oil portfolio up 43% amid Big Oil windfall, pain at the pump
Major oil companies, including ExxonMobil, Chevron, and Shell, reported higher earnings in the third quarter. This comes as the conflict in Iran leads to increased fuel prices for American consumers. Trump's investments in oil and gas stocks have significantly appreciated during this time. More than 94% of his oil stock purchases occurred after the conflict began. Rising fuel prices serve as a crucial issue ahead of the upcoming midterm elections.
Government scraps export duty on petrol, raises levies on diesel and ATF
The Indian government has abolished the special additional excise duty on petrol exports as of now. Diesel export levies have been raised to Rs 11.50 per litre from Rs 8.50 per litre. The export duty on aviation turbine fuel has also increased by 50 paise per litre. These adjustments reflect ongoing pressures from international energy market disruptions linked to geopolitical events.
Bank of Baroda Q2 profit jumps 36% to Rs 6,532 crore on NSE stake sale
Bank of Baroda reported 36% year-on-year profit growth to Rs 6,532 crore in Q2FY27, boosted by NSE stake sale gains and higher interest income. The lender raised annual credit and deposit growth guidance amid strong loan demand.
RIL Q2 Results Preview: Profit outlook brightens as O2C business set to drive growth
Reliance Industries is expected to report 15-17% year-on-year growth in September-quarter EBITDA, driven by a sharp recovery in its oil-to-chemicals business. Brokerages expect stronger refining margins, higher throughput and a weaker rupee to offset subdued retail and oil and gas performance. Investors will track O2C profitability, Jio Platforms’ earnings and retail margins as RIL announces results.
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Jio’s record India IPO falls short of record payday for bankers
Jio Platforms raised about $3.1 billion through its record IPO, but intense competition among investment banks kept fees relatively low at around 0.65% of the issue size.
Ellen DeGeneres bought Adam Levine’s 10,376-square-foot Beverly Hills mansion for $42.5 million; less than two years later, she listed it for $53.5 million and sold it for $47 million
Ellen DeGeneres has successfully sold a glamorous mansion that was formerly owned by Adam Levine, turning a significant profit. Levine acquired the property for $33.9 million and upgraded it before passing it on to DeGeneres. After just under two years, she listed the estate for $53.5 million, eventually selling it for $47 million.
Charting the global economy: Inflationary pressures mount in US
A broad upswing in consumer prices last month helps reinforce expectations for additional Federal Reserve interest-rate increases in the months ahead.
Govt revises windfall gains tax for petrol and diesel exports
The central government has increased the windfall tax on petrol exports to Rs 2.5 per litre. Simultaneously, the windfall tax on diesel has been reduced to Rs 8.5 per litre. These adjustments will be effective from October 16, as announced by the central board of indirect taxes and customs.
IMF edges up 2026 global growth forecast to 3.1% but warns economy is ‘vulnerable to setbacks from both directions’
The International Monetary Fund has updated its global growth forecast for 2026 to 3.1 percent. Concerns remain about the economy's resilience amidst geopolitical tensions and depleting oil inventories. Advanced economies are projected to grow more slowly, while emerging markets may face slowdowns. Inflation is expected to remain high, impacting consumer prices worldwide. Policymakers are urged to strengthen fiscal measures and manage inflationary pressures effectively.
Crude oil crisis in Hormuz: Much more than just price and quantity
The conflict in Iran has closed the Strait of Hormuz, severely impacting global oil shipments and market dynamics. While oil availability has seemingly increased, a logistics premium affects shipping costs and insurance. This situation has led to heightened risks, causing delays in transit times and increased tanker requirements. Diesel shortages are also rising, with prices escalating significantly as supply chains are disrupted.
Petrol margins turn positive as OMC fuel marketing losses ease in Q2FY27: Report
Fuel marketing losses of state-run oil marketing companies (OMCs) narrowed sharply in the September quarter, helped by lower crude oil prices and the full impact of retail fuel price hikes, according to Emkay Research.
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.
Hurun India Rich List 2026: Gautam Adani overtakes Mukesh Ambani as richest Indian
According to the M3M Hurun India Rich List 2026, India's wealth has soared to an impressive Rs. 187.5 lakh crore, with Gautam Adani now eclipsing Mukesh Ambani in the wealth hierarchy. LN Mittal also reports major financial gains.
NSE IPO: A listing that matters beyond the market
NSE made its debut on BSE, which reflects shifts in institutional investor strategies. The exchange's listing invites scrutiny from analysts and affects capital allocation among financial institutions. Institutions that retained their shares signal confidence in India's market potential and growth trajectory. Overseas investors are increasingly interested in India's market, driven by technological advancements. This listing sets a precedent for establishing market valuations for other financial institutions in India.
PSUs in NSE IPO: How much did SBI, other government entities make in India’s second largest offer?
Ten public sector entities, led by SBI and New India Assurance, unlocked a combined profit of nearly Rs 12,802 crore through the Rs 22,562 crore NSE IPO offer for sale. Listed at Rs 1,800, NSE became India's ninth-largest listed firm with a Rs 4.63 lakh crore valuation.
Trump's pressure on NATO is reshaping Europe's defences. Will it break the alliance?
European nations are increasing defence spending and exploring alternatives to American military technology. This shift is happening as doubts grow about the durability of United States support for NATO. While allies have met spending demands, uncertainty about future US troop presence has persisted. Further, Russia's actions have tested NATO unity and European defence capabilities.
Up to 152X return! Rentomojo IPO delivers eye-popping gains to Nitish Mittersain, other early backers
Rentomojo’s stock market debut has turned into a major windfall for early investors, with Nazara Technologies founder Nitish Mittersain set to clock a 152X return on his investment based on the IPO’s upper price band. Several other early backers, including Accel India, Madison India and Rajeev Chitrabhanu, are also poised to unlock multi-fold gains following the company’s listing on Thursday.
Reliance Industries shares gain as govt slashes windfall tax on fuel exports; stock down 21% in 2026 so far
Reliance Industries shares saw a gain following the government's reduction in windfall taxes on fuel exports. The duty on diesel and petrol exports has been significantly lowered as part of a routine review. This move benefits Reliance Industries, a major exporter of aviation turbine fuel and diesel. The company is also raising Rs 12,500 crore through a five-year bond issuance.
In 2012, Elon Musk paid $17 million for a 16,251-square-foot Bel-Air mansion with rooftop solar; 8 years later, he sold it for $29 million
In 2020, Elon Musk made headlines by selling a lavish Bel-Air mansion at a hefty profit. This sale unfolded against a backdrop where countless young adults confronted an increasingly unaffordable housing market. With home prices spiraling, Musk's lucrative real estate dealings highlight a stark divide between his financial gains and the struggles of a generation unable to secure proper housing.
NSE IPO jackpot: 10 PSUs could pocket Rs 12,802 crore from stake sale
NSE’s IPO could deliver a massive windfall to 10 public-sector shareholders, which together could make a profit of around Rs 12,802 crore by selling their shares at the upper price band of Rs 1,785. State Bank of India stands to gain the most, with a potential profit of nearly Rs 2,849 crore, followed by The New India Assurance Company.
How Trump's stock portfolio rode oil price rollercoaster: Report
Oil prices surged above $100 a barrel amid escalating tensions with Iran. President Trump's disclosed oil investments gained millions during the six months of conflict. His accounts continued trading energy stocks affected by his wartime decisions. The White House maintains independent managers control the portfolio and deny any influence. This situation raises questions about the intersection of policy and private financial interests.
NSE IPO set to deliver massive gains of Rs 7,200 crore to state-run insurance firms
General Insurance Corp, National Insurance, New India, Oriental Insurance and United India were among the earliest investors in the exchange, which opened in 1994 and is India's biggest by trading volume. The proposed IPO, expected later this month, is entirely an offer for sale of up to 148.91 million shares, which would mean that NSE itself will not receive proceeds from the issue.
Canara Bank eyes $2 billion overseas bond raise
Canara Bank plans to raise up to $2 billion from overseas markets under its MTN programme, with the funds to be mobilised through its GIFT City or other overseas branches.
Govt revises windfall gains tax on petroleum products, new rates effective from August 17
The government on Friday revised the windfall gains tax on petroleum products, reducing the levy on domestic crude oil to Rs 2,100 per tonne, down from the previous Rs 2,400 per tonne. However, the windfall gains tax on the export of petrol, diesel, and aviation turbine fuel (ATF) remains unchanged at NIL. These new rates will come into effect starting August 17, 2024.
Govt reduces windfall gain tax on crude production, ATF and diesel export
India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, export duties of Rs 6 per litre (USD 12 per barrel) each were levied on petrol and ATF and Rs 13 a litre (USD 26 a barrel) on diesel.
India cuts windfall tax on crude, aviation fuel
The tax on crude oil produced by local firms has been reduced to Rs 1,700 per tonne from the existing Rs 4,900 per tonne, as per government notification.
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