ONGC hits 52-wk high, Oil India up 4%; what’s driving upstream oil stocks?

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ONGC and Oil India are key beneficiaries if Brent price remains elevated above USD 70/bbl as their CMP is discounting ~USD 65/bbl net crude realisation amidst low risk of windfall tax, said analysts.   Shares of Indian upstream oil companies rallied up to 4 per cent on the BSE in Tuesday’s intra-day trade. Individually, Oil…

India-New Zealand trade pact cuts fruit tariffs, boosts exports and visas

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The agreement, concluded in December, will see New Zealand eliminate duties on all Indian exports, while India will reduce tariffs on 95 per cent of imports from the South Pacific nation India and New Zealand on Monday signed a free-trade agreement (FTA) that significantly lowers tariffs on goods, expands market access, and eases entry for…