India’s crude oil stocks have dropped 15% since late February due to declining imports amid the Iran conflict. Refiners are drawing from inventories to maintain processing rates, but sustained supply constraints may soon necessitate reduced operations, potentially explaining the call for fuel conservation.
Vedanta Oil & Gas, Vedanta Iron & Steel, Vedanta Power shares crash up to 8% post Q1 updates; Vedanta Aluminium rises
Shares of Vedanta’s recently demerged entities traded mixed after their Q1 business updates. Vedanta Oil & Gas, Vedanta Iron & Steel and Vedanta Power fell