Wednesday, October 07
Shares of Adani Power slipped as much as 1.2% on Wednesday to Rs 589 on the BSE, snapping a five-day rally that saw the stock surge nearly 12% since June 3. The decline appears to reflect profit-booking after a sharp upward move driven by a combination of technical strength and long-term growth triggers.The stock had rallied to an intraday high of Rs 610 on Tuesday, gaining 8.2% during the session and marking its fifth consecutive day of gains.Despite a mixed March-quarter performance—with net profit falling 4% year-on-year to Rs 2,637 crore and a sequential decline of 14%—investor sentiment remained upbeat, supported by long-term order wins and capacity expansion plans.Revenue for the quarter rose 6.5% YoY to Rs 14,237 crore, though it fell 4% compared to the December quarter. Total e
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 53.5% in April-May this year, up from 43.6% 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 25.7%. RIL's share dropped to 9.9% from 13.8%, while Nayara's fell to 8.7% from 11.9%. Among state-run firms, Hindustan Petroleum's share contracted to 12.9% from 14.2% and Bharat Petroleum's declined to 12.5% from 14.8%.IndianOil is using aggressive pr
