Nov 29 2024, 11:36

#russiahitsukrainianenergyfacilities1millionpeoplein_dark
रूस ने यूक्रेन पर की मिसाइलों की बरसात, 90 से अधिक मिसाइलों और ड्रोन से हमला, अंधेरे में डूबा देश

रूस-यूक्रेन के बीच लगभग तीन साल से चल रहे युद्ध में हाल के दिनों में तनाव बढ़ा है, जिसमें दोनों पक्ष नए हथियारों का इस्तेमाल कर रहे हैं। अमेरिकी और ब्रिटिश हथियारों से मॉस्को पर हमले के बाद से ही रूसी राष्ट्रपति पुतिन बौखलाए हुए हैं। व्लादिमीर पुतिन ने गुरुवार को कीव में निर्णय लेने वाले केंद्रों पर रूस की नई हाइपरसोनिक मिसाइल से हमले की धमकी दी। इस धमकी के कुछ घंटों बाद ही रूस ने गुरुवार को यूक्रेन पर मिसाइलों की बारिश की। इस हमले के जरिए उसने यूक्रेन के ऊर्जा बुनियादी ढांचे पर दूसरा सबसे बड़ा अटैक किया। हमले के कारण दस लाख लोग बिजली से वंचित हो गए।

रूसी राष्ट्रपति पुतिन ने कहा कि यूक्रेन की ओर से रूस में लंबी दूरी की ATACMS मिसाइलों से किए गए हमले के जवाब में यह हमला किया गया है। इसके अलावा उन्होंने चेतावनी देते हुए कहा कि भविष्य में कीव में 'निर्णय लेने वाले केंद्र' निशाना बन सकते हैं।पुतिन ने दावा किया कि रूस ने 17 लक्ष्यों को निशाना बनाया जो सैन्य सुविधाएं, रक्षा उद्योग और उनकी सहायता प्रणाली थीं। उन्होंने बिजली के बुनियादी ढांचे पर हमलों को स्वीकार नहीं किया।

पुतिन ने कजाखिस्तान की राजधानी अस्ताना में एक प्रेस कॉन्फ्रेंस में कहा, "हम कीव समेत सैन्य और निर्णय लेने वाले केंद्रों के खिलाफ हाइपरसोनिक मिसाइलों का इस्तेमाल करने से इंकार नहीं करते।"

क्लस्टर हथियारों के साथ क्रूज मिसाइलों के इस्तेमाल का आरोप
वहीं, न्यूज एजेंसी रॉयटर्स के अनुसार यूक्रेनी राष्ट्रपति वोलोडिमिर ज़ेलेंस्की ने रूस पर “घृणित वृद्धि” का आरोप लगाते हुए कहा कि उसने क्लस्टर हथियारों के साथ क्रूज मिसाइलों का इस्तेमाल किया है। यूक्रेनी राष्ट्रपति वोलोडिमिर ज़ेलेंस्की ने रूस पर “घृणित वृद्धि” का आरोप लगाते हुए कहा कि उसने क्लस्टर हथियारों के साथ क्रूज मिसाइलों का इस्तेमाल किया है।

ज़ेलेंस्की ने इन नेताओं से मांगी मदद
बाद में अपने रात के वीडियो संबोधन में, ज़ेलेंस्की ने कहा कि वह नाटो महासचिव मार्क रूटे, ब्रिटिश प्रधानमंत्री कीर स्टारमर और जर्मन चांसलर ओलाफ स्कोल्ज़ सहित पश्चिमी नेताओं से बात कर रहे थे, ताकि “स्थिति को और अधिक असहनीय बनाने और युद्ध को लम्बा खींचने के रूस के प्रयास” का जवाब दिया जा सके। उन्होंने कहा, “अब समय आ गया है कि हम अपनी स्थिति – यूक्रेन और हमारे भागीदारों की स्थिति को मजबूत करें।” 

May 19 2024, 13:16

Europe can be reached 20 days earlier and for 30% cheaper:Chabahar port helps India expand its trade:

India's pact with Iran to develop the Chabahar port will give a boost to the multimodal transportation network called the International North-South Transport Corridor, enabling exports from South Asia to reach Europe and Russia.

India signing a pact to equip and operate the Chabahar port in Iran should be music to the ears of domestic traders and exporters. This is because the port will also serve as a key node in the International North-South Transport Corridor (INSTC), a multimodal transportation network that aims to connect South Asia to Europe and Russia via Iran.

They also point out that the INSTC is being seen as an alternative to the Suez Canal trade route. About 12% of global trade, around one million barrels of oil and roughly 8% of liquefied natural gas pass through the canal each day, says a BBC report.

Yet it remains vulnerable. In 2021, the experts recall, a ship ran aground and blocked the Suez Canal for six days. Lloyd's List estimated that $9.6 billion of trade was held up each day. The world was recently again reminded of the importance of having alternative trade routes when the Israel-Hamas conflict and the Houthi attacks on ships coming or going to the canal started disrupting trade.

In this context, the INSTC corridor can be a critical geostrategic tool India needs to enhance its trade footprints in Central Asia.

Ajay Sahai, Director General & CEO of the Federation of Indian Export Organisations (FIEO), includes perishable products - including marine, fruits and vegetables - agriculture and allied products (tea, coffee and spices, edible), apparel, engineering goods, organic chemicals, rubber, medical and diagnostic instruments, and project exports to the list.

source: et 

May 06 2024, 08:10

How G7 and EU are weaponising diamonds and carbon:

In the wake of the Ukraine war, the West tried every trick in the diplomatic playbook to get India to loosen ties with Russia. After that strategy failed, it is using trade to force New Delhi's hand,.

India polishes 10 out of the 11 rough diamonds the world mines. It is a global monopoly the world envies. Since the West imposed sanctions on Russia following its invasion of Ukraine, the US and Europe have been fuming over India continuing to trade with Moscow, especially in crude oil.

Frustratingly, they cannot out of self-interest - stop India from buying Russian crude because Indian refineries ship the finished product, including diesel, to Europe which needs a regular supply of diesel.

Indian diamantaries had anyway stopped buying rough diamonds from Russia following Western sanctions, replacing them with roughs bought from the trading division of Anglo-American mining conglomerate De Beers for polishing and export.

But the G7's diktat to certify all rough diamonds at Belgium's new traceability centres from September means Indian exporters will have to ship roughs to Brussels before getting them back certified as not being of Russian origin before refining and exporting them. This will add to their overall costs.

While the G7's new diamond export rule is aimed at India, the world's largest processor of rough diamonds, the new carbon tax levied by the European Union (EU) is designed to penalise developing countries.

Called the Carbon Border Adjustment Mechanism (CBAM), the tax kicks in from 2026. But exporters of steel, cement and other products whose manufacturing process carries a significant carbon footprint have had to submit detailed documentation of their processes every two months starting from October 2023.

"US foreign policy has long been suffused with militarism, unilateralism, and hypocrisy. The problem goes far beyond Iraq. Think about Vietnam, Cambodia, Laos, Nicaragua, Serbia (1999), Afghanistan (both 1979 and 2001), Syria (the CIA-led attempt to overthrow Assad), Libya, and Ukraine (Yanukovych's overthrow).

"The UN Security Council should be forging a path to peace, one that is based on Ukraine's neutrality. But the UNSC has not even tried to find a negotiated path to peace.

source: et 

Apr 21 2024, 11:10

Banning of Russian metal and Chinese revival, 5 metal stocks with an upside potential of up to 23%:

It is not easy to quantify how much impact it will have in the short term, but the fact that the two of the world largest commodity exchanges, London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) have banned any metal of Russian origin produced after 13th April, have a higher probability of pushing up the metal prices higher after some time. Now this comes on the back of Chinese GDP numbers which were better than expected. If one looks at the trend in metal prices, they are incher higher. If the revival of the Chinese economy gets further momentum than probably two years old, the bearish phase of metal prices might be over. What does this mean for the Indian metal companies, probably another round of higher profits given the fact that their balance sheets are in much better shape as compared to 5 years back.

When China declared its first quarter GDP numbers, it took most by surprise. But then the news of Russian metal being banned from trading at two of the world's most important metal exchanges is something which has a higher probability of pushing the metal price higher. Coming to China, against expected 4.8% the numbers came at 5.3% for the first quarter. While this is one quarter numbers so there can be some skepticism but the fact is that over the last two decades there have been many issues which the Chinese economy has faced, right from debt to GDP concern to shadow banking to property crisis. They all have been resolved and the economy has been able to make a comeback. So, don't dismiss these numbers as another one of numbers which China keeps throwing out. The biggest impact of a sustained Chinese recovery would be felt by one sector, that is metals and probably the street has a hint of it and that is why metal stocks were able to outperform even in volatile markets.

Metal stocks - Upside potential

Apr 20, 2024

Company Name

Latest Avg Score

Reco

Analyst Count

 Upside Potential %

Inst Stake %

1M Returns %

3M Returns %

1Y Returns %

Market Cap Rs Cr

Tata Steel

6

Hold

28

23.4

31.1

9.0

20.7

50.0

202,358

JSW Steel

9

Hold

27

18.0

16.6

8.0

5.9

19.7

211,593

Jindal Steel And Power

10

Buy

25

15.4

20.8

16.8

27.2

59.9

94,608

Hindalco Industries

8

Buy

23

13.9

43.2

15.2

10.4

42.0

138,091

National Aluminium Co

6

Hold

9

3.9

22.8

34.8

38.3

120.3

33,913

 Calculated from highest price target given by analysts

source: et 

Apr 12 2024, 09:10

As crude prices rise, should  worry about India's strategic oil buffer?

India's oil demand is growing amid the global volatility around crude supply and prices. The country has just 75 days of strategic oil buffer, while China, the top oil-importing nation ahead of india, maintains six months of cushion.

The country now consumes more than double the petrol it used a decade ago. Its diesel consumption is up by about a third, while the overall oil demand has risen by half, the latest government data shows. This is obviously a sign of a growing economy. But it also has a doomy message for the fisc of a country, which depends heavily on imports to meet its domestic oil demand. For, Brent crude prices are once again moving towards USD90 levels and might hit USD100 per barrel soon.

Does India, the world's third-largest oil consumer and importer, have the preparedness to tackle any massive global supply crunch or price rise? Does it have enough strategic reserves for a rainy day?

FY24 saw a muted growth in the country's oil and gas production, while the dependency on imports rose. As domestic demand increased, imports went up to 87.7% in the current fiscal till February against 87.2% in FY23, as per the latest data from the government's Petroleum Planning and Analysis Cell.

According to the International Energy Agency's (IEA) World Energy Outlook 2022, India's energy consumption will double by 2040, growing at about 3% per annum, compared to the global average growth rate of 1%. The reasons for India's rising energy demand primarily area growing population-soon to be the world's largest and a period of rapid economic growth. The outlook also forecasts that India's share in global energy demand will double to 11% from 6% now the fastest growth in that period for any country.

The importance of strategic storage In 2020, the global crude witnessed the biggest fall in 20 years. India took advantage of the depressed prices and filled its caverns at around USD20 per barrel. This was partially used during February-March 2022, when oil prices breached the USD100 per barrel-mark.

As oil prices are rising again, a good buffer stock could be useful to partially absorb an abnormal spike in the global oil prices. Today, the Israel-Hamas conflict, the Russia-Ukraine war, and the Red Sea crisis have reinforced the need for India to strategically build its crude oil storage reserves.

source: et 

Mar 17 2024, 08:09

Small cut in the fuel price a big hit to OMC revenue: Analysts

Earnings may fall by Rs 30kcer due to March 15 decision to slash petrol, diesel prices by Rs 2, say analysts.

This is the first fuel revision by the OMCs in nearly two years-the last was on April 6, 2022. Despite major volatility in global oil prices due to the Russia-Ukraine war and unrest in West Asia, India pump prices have remained steady.

The price cut of Rs 2 per litre for petrol and diesel by the state-run oil marketing companies (OMCs)--Indian Oil Corp. (IOCL), Hindustan Petroleum Corp. (HPCL) and Bharat Petroleum Corp. (BPCL)--will erode their revenue and ebitda, according to analysts.

The government had announced the price cut with effect from March 15, a day before general election dates were announced.

"Although small on headline, a Rs 2 per litre cut will reduce OMC revenue/ebitda by about Rs 30,000 crore ($3.7bn) annualised," JP Morgan said in March 15 report, adding that "the latest data suggests Russian crude discounts have fallen further. Put together, these should remove the current super-normal profitability at the three companies."

A senior OMC official said the companies are hoping the fuel price cut is effective only for the next three months and that crude does not turn too volatile. Oil prices hovered near a fourmonth high at $85 a barrel, on Friday after the International Energy Agency (IEA) revised its 2024 oil demand forecast higher.

IEA said world oil demand will rise by 1.3 million barrels per day (bpd) in 2024, up 110,000 bpd from last month.

In a report, Motilal Oswal said since there is no indication of any excise duty relief from the central government, it appears that the price cut will be borne entirely by the OMCs. They are currently pricing in net marketing margins of Rs 1.7-2.7 per litre. The price cut implies that net marketing margins will decline to Rs 0.8-0.9 per litre.

"We estimate every `0.5 per litre cut to net marketing margin would reduce FY25E Ebitda for HPCL/BPCL/IOCL by 16%/13%/11%, respectively," Goldman Sachs said in a March 15 report.

"In the near term, OMCs will mark down retail fuel inventories and partly negate the inventory gain from higher crude for F24," Morgan Stanley said in its report.

source: et 

Mar 15 2024, 07:04

IOC, HPCL, BPCL stocks are having a dream rally. Will benign oil prices continue to fuel it?

The shares of OMCs have rallied up to 170% in the last one year. Still, they are available at low valuations and, therefore, look attractive. But going forward, a lot will depend on which way crude oil prices move.

India's oil marketing companies (OMCs) have certainly given their investors some bragging rights.

Take for example Indian Oil Corporation (IOC), the largest government-owned oil producer in the country both in terms of capacity and revenue. IOC shares have given nearly 170% returns in the last one year. The stock went from INR70 per share in January 2023 to its recent high of IN R197.

The international crude oil prices have remained benign and since May 2022 went down from USD114 per barrel to USD78 per barrel. Meanwhile, India has also managed to import oil from Russia at low discounted prices. Even when OPEC (Organization of the Petroleum Exporting Countries) members took up a production cut in December 2023 with Saudi Arabia cutting output by 1 million barrels per day, India was not really affected as Venezuelan oil was flowing into the market after the US lifted sanctions. This has helped Indian oil companies improve their margins and drive in record profitability.

OMCs profit after tax

2014-15

5,273

5,085

-2,733

2015-16

11,242

7,056

-3,725

2016-17

2017-18

2018-19

Total

13,091

22,023

19,106

8,039

6,209

33,354

21,346

7,919

6,357

35,622

16,894

7,132

6,029

30,055

2019-20

1,313-

2,637

2,683

2020-21

2021-22

2022-23

-8,974

8,242

-1,870

21,836

6,633

19,042

10,664

51,542

39,356

24,184

8,789

6,383

IOCL

BPCL

HPCL

Losses due to suppressed marketing margins.

2022-23-Due to Supressed Marketing margins

Figures in INR crore

1,138

source: et 

Jan 28 2024, 08:43

Sony-Zee merger: the deal slowly morphing into a hostile takeover by the Japanese?

Several conditions precedent and terms involving closure of overseas businesses, domestic divestments and additional provisions have been complied with by Zee, yet Sony is gunning to grab its only board seat and key managerial position, say insiders. 

While recent reports of the Japanese major's unannounced plans to terminate the deal and vehement denials from Zee on the bourses make it clear that all is not well, some people involved in the negotiations and some public shareholders feel that Zee and its shareholders are getting a raw deal.

With the so-called 'good faith' negotiations sliding into bitter shadow games fought in the media ahead of the January 20 deadline, Zee stocks have seen a significant value erosion on the bourses. From a high of INR290, it closed by January 4, the shares lost around 13% on January 11 to INR250 on the BSE. However, despite a weak market on Thursday when the Sensex lost over 300 points, Zee shares gained 1.73% fuelling hopes of a compromise. Several public institutions like LIC and mutual funds own significant stakes in Zee, making the deal a matter of immense interest for the market participants.

Cap on promoters' stake: A pertinent point mentioned in the agreement by Sony, which has not been brought to the fore, was limiting the equity that promoters may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company, or any other party.

Shutdown of profitable overseas businesses: As part of the 'closing conditions' set forth in the scheme, Zee was asked to shut certain operations in its key international markets including Russia, Thailand, and Germany. Despite these businesses being profitable for the company, these operations were closed down to honour the terms of the scheme. Should Sony decide to terminate the merger, what compensation would Zee get for the profits it has foregone from these businesses?

Divesting Margo: Despite this being a merger of two companies, it was only Zee that largely shut certain operations or was asked to divest certain businesses of the company including Margo Networks. Zee had invested over INR500 crore in Margo ahead of the merger talks. Following Sony's disinclination to take on this business, which had got into litigation, the business is in the process of divestment.

Provisions for cricket broadcast deal: To tap the sports monetisation space, Zee inked an association with Disney Star to broadcast the ICC men's and women's matches for a period of four years starting 2024. This was a significant investment meant to strengthen the sports portfolio of the merged



source:et 

Jan 17 2024, 09:51

Digital gatekeeper: How Staqu's facial-recognition system is securing Ayodhya's sacred path to faith:

A view of Idols of Hindu Lord Ram, brother Laxman, Bharat and Shatrughan, inside the temporary premises Ram temple in Ayodhya, India on August 5, 2020. Prime Minister Narendra Modi took part in the Groundbreaking ceremony for he proposed Ram Mandir temple in Ayodhya.

Ahead of the monumental Ram Mandir Pran Pratishtha, Ayodhya is relying on an Al-powered security system to ensure visitors' safety. As the city's digital gatekeeper, JARVIS scans faces, maps patterns, and predicts threats.

Ever since the culmination of the Ram Janmabhoomi Rath Yatra in the early 90s', a movement that many political commentators believe was pivotal in BJP's transformation into India's largest party, much water has flown through the river that also witnessed the journey of Rama (Ramayana), the warrior prince of Ayodhya. And as the Sarayu continues to flow as a mute spectator, faith remains untouched by time in this holy land where mythology meets technology.

With around 12,000 high-profile dignitaries landing in Ayodhya to participate in the grand event, thousands of AI cameras guard the city's saffron-laced alleys while drones keep a hawk-eye over its limits from the sky. At the centre of this security apparatus is its digital sentinel, JARVIS, an AI- based video-analytics software which analyses faces to identify potential suspects, threats, and other anomalies.

JARVIS has already been deployed at major attractions such as the Ram Janmabhoomi, Hanuman Garhi Mandir, Ram ki Pauri, Kanak Bhavan, and Nageshwar Nath Mandir. Its advanced facial- recognition tool scans thousands of faces in real-time, analyses behaviour patterns, and crunches vast data sets to instantly pinpoint potential threats, detect anomalies, and trigger alarms for advanced surveillance. According to the Ayodhya police, it can spot suspicious activity and raise an alarm to alert the security agencies.

"The police have already started pinning down a few suspects using JARVIS," Atul Rai, CEO of Staqu, tells ET Prime, adding that it's a "matter of pride" that technologies developed in India have started to challenge the dominance of countries like America, Russia, Israel, and Japan.


source: et 

Jan 16 2024, 07:31

Tehran and Red Sea sharks: India is best positioned to convey to Iran the need to rein in the Houthis

The present situation in West Asia, altered by the Israeli-Hamas war and the emergence of Iran-backed Houthi rebels as lead responders against Israel, requires a credible conversation with Iran. From an Iranian standpoint too, the overall picture is not encouraging. It has just suffered a twin terror strike killing at least 90 people. While ISIS has claimed responsibility for the attack, the political rhetoric in Tehran remains directed at the West. As a result, it has got pushed into the Russia-China bloc with doors shut on the rest.

Historically, Houthis are from a sect that is a variant of Shia Islam. While there are doctrinal differences, Houthis are today part of the larger Iran-led Shia political alliance.

Their targeting of merchant vessels in the Red Sea has forced major shipping and freight companies to avoid the Suez Canal and, instead, take the circuitous route around the Cape of Good Hope to Asia. This has increased the distance by 3,300 nautical miles, journey time by 8-10 days and raised shipping costs by 20-25%, depending on the type of vessel, besides throwing tight berthing schedules across ports out of gear. While the immediate impact is still within manageable limits, it's the cumulative long-term effect, in case the situation doesn't improve, that has all stakeholders worried.

In this context, the visit of external affairs minister S Jaishankar to Iran acquires significance. India has a healthy relationship with the Ebrahim Raisi regime, one where it has proven its effectiveness as a power that can help Tehran on a larger stage. India, for instance, played a key role in Iran becoming a BRICS member.

Saudi Arabia was not keen on Iran getting into the grouping. Which is where Tehran's application for membership ran into trouble. It was India, while agreeing to support the Saudi case, which also backed Iran and then worked hard to lobby with the rest to see it through. This was an important signal from a regional balance of power perspective for Iran. That India decided to press ahead despite its close ties with the US also helped strengthen credibility of the relationship.

 India will, thus, look to use its channels to impress upon Iran to proactively de-escalate the prevailing situation in the Red Sea as attacks by Houthi rebels are not targeted at just Israeli interests but all merchant vessels. And, despite Tehran's denials, the fact is that it may end up on the wrong side of the ledger with many countries, including India, if all commercial maritime traffic in area remain in the danger of being hit.


In many ways, India is positioned best to convey to Iran where this could lead if it does not reconsider its position. And if Iran were to take the Indian side seriously, it might just provide an opening to rebuild bridges of engagement it desperately needs to step out of a difficult political corner it finds itself in, with limited diplomatic options and increasing dependencies on Russia and China. In fact, India may just provide it the heft to rebalance, recalibrate and reboot.


source:et 

Nov 29 2024, 11:36

#russiahitsukrainianenergyfacilities1millionpeoplein_dark
रूस ने यूक्रेन पर की मिसाइलों की बरसात, 90 से अधिक मिसाइलों और ड्रोन से हमला, अंधेरे में डूबा देश

रूस-यूक्रेन के बीच लगभग तीन साल से चल रहे युद्ध में हाल के दिनों में तनाव बढ़ा है, जिसमें दोनों पक्ष नए हथियारों का इस्तेमाल कर रहे हैं। अमेरिकी और ब्रिटिश हथियारों से मॉस्को पर हमले के बाद से ही रूसी राष्ट्रपति पुतिन बौखलाए हुए हैं। व्लादिमीर पुतिन ने गुरुवार को कीव में निर्णय लेने वाले केंद्रों पर रूस की नई हाइपरसोनिक मिसाइल से हमले की धमकी दी। इस धमकी के कुछ घंटों बाद ही रूस ने गुरुवार को यूक्रेन पर मिसाइलों की बारिश की। इस हमले के जरिए उसने यूक्रेन के ऊर्जा बुनियादी ढांचे पर दूसरा सबसे बड़ा अटैक किया। हमले के कारण दस लाख लोग बिजली से वंचित हो गए।

रूसी राष्ट्रपति पुतिन ने कहा कि यूक्रेन की ओर से रूस में लंबी दूरी की ATACMS मिसाइलों से किए गए हमले के जवाब में यह हमला किया गया है। इसके अलावा उन्होंने चेतावनी देते हुए कहा कि भविष्य में कीव में 'निर्णय लेने वाले केंद्र' निशाना बन सकते हैं।पुतिन ने दावा किया कि रूस ने 17 लक्ष्यों को निशाना बनाया जो सैन्य सुविधाएं, रक्षा उद्योग और उनकी सहायता प्रणाली थीं। उन्होंने बिजली के बुनियादी ढांचे पर हमलों को स्वीकार नहीं किया।

पुतिन ने कजाखिस्तान की राजधानी अस्ताना में एक प्रेस कॉन्फ्रेंस में कहा, "हम कीव समेत सैन्य और निर्णय लेने वाले केंद्रों के खिलाफ हाइपरसोनिक मिसाइलों का इस्तेमाल करने से इंकार नहीं करते।"

क्लस्टर हथियारों के साथ क्रूज मिसाइलों के इस्तेमाल का आरोप
वहीं, न्यूज एजेंसी रॉयटर्स के अनुसार यूक्रेनी राष्ट्रपति वोलोडिमिर ज़ेलेंस्की ने रूस पर “घृणित वृद्धि” का आरोप लगाते हुए कहा कि उसने क्लस्टर हथियारों के साथ क्रूज मिसाइलों का इस्तेमाल किया है। यूक्रेनी राष्ट्रपति वोलोडिमिर ज़ेलेंस्की ने रूस पर “घृणित वृद्धि” का आरोप लगाते हुए कहा कि उसने क्लस्टर हथियारों के साथ क्रूज मिसाइलों का इस्तेमाल किया है।

ज़ेलेंस्की ने इन नेताओं से मांगी मदद
बाद में अपने रात के वीडियो संबोधन में, ज़ेलेंस्की ने कहा कि वह नाटो महासचिव मार्क रूटे, ब्रिटिश प्रधानमंत्री कीर स्टारमर और जर्मन चांसलर ओलाफ स्कोल्ज़ सहित पश्चिमी नेताओं से बात कर रहे थे, ताकि “स्थिति को और अधिक असहनीय बनाने और युद्ध को लम्बा खींचने के रूस के प्रयास” का जवाब दिया जा सके। उन्होंने कहा, “अब समय आ गया है कि हम अपनी स्थिति – यूक्रेन और हमारे भागीदारों की स्थिति को मजबूत करें।” 

May 19 2024, 13:16

Europe can be reached 20 days earlier and for 30% cheaper:Chabahar port helps India expand its trade:

India's pact with Iran to develop the Chabahar port will give a boost to the multimodal transportation network called the International North-South Transport Corridor, enabling exports from South Asia to reach Europe and Russia.

India signing a pact to equip and operate the Chabahar port in Iran should be music to the ears of domestic traders and exporters. This is because the port will also serve as a key node in the International North-South Transport Corridor (INSTC), a multimodal transportation network that aims to connect South Asia to Europe and Russia via Iran.

They also point out that the INSTC is being seen as an alternative to the Suez Canal trade route. About 12% of global trade, around one million barrels of oil and roughly 8% of liquefied natural gas pass through the canal each day, says a BBC report.

Yet it remains vulnerable. In 2021, the experts recall, a ship ran aground and blocked the Suez Canal for six days. Lloyd's List estimated that $9.6 billion of trade was held up each day. The world was recently again reminded of the importance of having alternative trade routes when the Israel-Hamas conflict and the Houthi attacks on ships coming or going to the canal started disrupting trade.

In this context, the INSTC corridor can be a critical geostrategic tool India needs to enhance its trade footprints in Central Asia.

Ajay Sahai, Director General & CEO of the Federation of Indian Export Organisations (FIEO), includes perishable products - including marine, fruits and vegetables - agriculture and allied products (tea, coffee and spices, edible), apparel, engineering goods, organic chemicals, rubber, medical and diagnostic instruments, and project exports to the list.

source: et 

May 06 2024, 08:10

How G7 and EU are weaponising diamonds and carbon:

In the wake of the Ukraine war, the West tried every trick in the diplomatic playbook to get India to loosen ties with Russia. After that strategy failed, it is using trade to force New Delhi's hand,.

India polishes 10 out of the 11 rough diamonds the world mines. It is a global monopoly the world envies. Since the West imposed sanctions on Russia following its invasion of Ukraine, the US and Europe have been fuming over India continuing to trade with Moscow, especially in crude oil.

Frustratingly, they cannot out of self-interest - stop India from buying Russian crude because Indian refineries ship the finished product, including diesel, to Europe which needs a regular supply of diesel.

Indian diamantaries had anyway stopped buying rough diamonds from Russia following Western sanctions, replacing them with roughs bought from the trading division of Anglo-American mining conglomerate De Beers for polishing and export.

But the G7's diktat to certify all rough diamonds at Belgium's new traceability centres from September means Indian exporters will have to ship roughs to Brussels before getting them back certified as not being of Russian origin before refining and exporting them. This will add to their overall costs.

While the G7's new diamond export rule is aimed at India, the world's largest processor of rough diamonds, the new carbon tax levied by the European Union (EU) is designed to penalise developing countries.

Called the Carbon Border Adjustment Mechanism (CBAM), the tax kicks in from 2026. But exporters of steel, cement and other products whose manufacturing process carries a significant carbon footprint have had to submit detailed documentation of their processes every two months starting from October 2023.

"US foreign policy has long been suffused with militarism, unilateralism, and hypocrisy. The problem goes far beyond Iraq. Think about Vietnam, Cambodia, Laos, Nicaragua, Serbia (1999), Afghanistan (both 1979 and 2001), Syria (the CIA-led attempt to overthrow Assad), Libya, and Ukraine (Yanukovych's overthrow).

"The UN Security Council should be forging a path to peace, one that is based on Ukraine's neutrality. But the UNSC has not even tried to find a negotiated path to peace.

source: et 

Apr 21 2024, 11:10

Banning of Russian metal and Chinese revival, 5 metal stocks with an upside potential of up to 23%:

It is not easy to quantify how much impact it will have in the short term, but the fact that the two of the world largest commodity exchanges, London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) have banned any metal of Russian origin produced after 13th April, have a higher probability of pushing up the metal prices higher after some time. Now this comes on the back of Chinese GDP numbers which were better than expected. If one looks at the trend in metal prices, they are incher higher. If the revival of the Chinese economy gets further momentum than probably two years old, the bearish phase of metal prices might be over. What does this mean for the Indian metal companies, probably another round of higher profits given the fact that their balance sheets are in much better shape as compared to 5 years back.

When China declared its first quarter GDP numbers, it took most by surprise. But then the news of Russian metal being banned from trading at two of the world's most important metal exchanges is something which has a higher probability of pushing the metal price higher. Coming to China, against expected 4.8% the numbers came at 5.3% for the first quarter. While this is one quarter numbers so there can be some skepticism but the fact is that over the last two decades there have been many issues which the Chinese economy has faced, right from debt to GDP concern to shadow banking to property crisis. They all have been resolved and the economy has been able to make a comeback. So, don't dismiss these numbers as another one of numbers which China keeps throwing out. The biggest impact of a sustained Chinese recovery would be felt by one sector, that is metals and probably the street has a hint of it and that is why metal stocks were able to outperform even in volatile markets.

Metal stocks - Upside potential

Apr 20, 2024

Company Name

Latest Avg Score

Reco

Analyst Count

 Upside Potential %

Inst Stake %

1M Returns %

3M Returns %

1Y Returns %

Market Cap Rs Cr

Tata Steel

6

Hold

28

23.4

31.1

9.0

20.7

50.0

202,358

JSW Steel

9

Hold

27

18.0

16.6

8.0

5.9

19.7

211,593

Jindal Steel And Power

10

Buy

25

15.4

20.8

16.8

27.2

59.9

94,608

Hindalco Industries

8

Buy

23

13.9

43.2

15.2

10.4

42.0

138,091

National Aluminium Co

6

Hold

9

3.9

22.8

34.8

38.3

120.3

33,913

 Calculated from highest price target given by analysts

source: et 

Apr 12 2024, 09:10

As crude prices rise, should  worry about India's strategic oil buffer?

India's oil demand is growing amid the global volatility around crude supply and prices. The country has just 75 days of strategic oil buffer, while China, the top oil-importing nation ahead of india, maintains six months of cushion.

The country now consumes more than double the petrol it used a decade ago. Its diesel consumption is up by about a third, while the overall oil demand has risen by half, the latest government data shows. This is obviously a sign of a growing economy. But it also has a doomy message for the fisc of a country, which depends heavily on imports to meet its domestic oil demand. For, Brent crude prices are once again moving towards USD90 levels and might hit USD100 per barrel soon.

Does India, the world's third-largest oil consumer and importer, have the preparedness to tackle any massive global supply crunch or price rise? Does it have enough strategic reserves for a rainy day?

FY24 saw a muted growth in the country's oil and gas production, while the dependency on imports rose. As domestic demand increased, imports went up to 87.7% in the current fiscal till February against 87.2% in FY23, as per the latest data from the government's Petroleum Planning and Analysis Cell.

According to the International Energy Agency's (IEA) World Energy Outlook 2022, India's energy consumption will double by 2040, growing at about 3% per annum, compared to the global average growth rate of 1%. The reasons for India's rising energy demand primarily area growing population-soon to be the world's largest and a period of rapid economic growth. The outlook also forecasts that India's share in global energy demand will double to 11% from 6% now the fastest growth in that period for any country.

The importance of strategic storage In 2020, the global crude witnessed the biggest fall in 20 years. India took advantage of the depressed prices and filled its caverns at around USD20 per barrel. This was partially used during February-March 2022, when oil prices breached the USD100 per barrel-mark.

As oil prices are rising again, a good buffer stock could be useful to partially absorb an abnormal spike in the global oil prices. Today, the Israel-Hamas conflict, the Russia-Ukraine war, and the Red Sea crisis have reinforced the need for India to strategically build its crude oil storage reserves.

source: et 

Mar 17 2024, 08:09

Small cut in the fuel price a big hit to OMC revenue: Analysts

Earnings may fall by Rs 30kcer due to March 15 decision to slash petrol, diesel prices by Rs 2, say analysts.

This is the first fuel revision by the OMCs in nearly two years-the last was on April 6, 2022. Despite major volatility in global oil prices due to the Russia-Ukraine war and unrest in West Asia, India pump prices have remained steady.

The price cut of Rs 2 per litre for petrol and diesel by the state-run oil marketing companies (OMCs)--Indian Oil Corp. (IOCL), Hindustan Petroleum Corp. (HPCL) and Bharat Petroleum Corp. (BPCL)--will erode their revenue and ebitda, according to analysts.

The government had announced the price cut with effect from March 15, a day before general election dates were announced.

"Although small on headline, a Rs 2 per litre cut will reduce OMC revenue/ebitda by about Rs 30,000 crore ($3.7bn) annualised," JP Morgan said in March 15 report, adding that "the latest data suggests Russian crude discounts have fallen further. Put together, these should remove the current super-normal profitability at the three companies."

A senior OMC official said the companies are hoping the fuel price cut is effective only for the next three months and that crude does not turn too volatile. Oil prices hovered near a fourmonth high at $85 a barrel, on Friday after the International Energy Agency (IEA) revised its 2024 oil demand forecast higher.

IEA said world oil demand will rise by 1.3 million barrels per day (bpd) in 2024, up 110,000 bpd from last month.

In a report, Motilal Oswal said since there is no indication of any excise duty relief from the central government, it appears that the price cut will be borne entirely by the OMCs. They are currently pricing in net marketing margins of Rs 1.7-2.7 per litre. The price cut implies that net marketing margins will decline to Rs 0.8-0.9 per litre.

"We estimate every `0.5 per litre cut to net marketing margin would reduce FY25E Ebitda for HPCL/BPCL/IOCL by 16%/13%/11%, respectively," Goldman Sachs said in a March 15 report.

"In the near term, OMCs will mark down retail fuel inventories and partly negate the inventory gain from higher crude for F24," Morgan Stanley said in its report.

source: et 

Mar 15 2024, 07:04

IOC, HPCL, BPCL stocks are having a dream rally. Will benign oil prices continue to fuel it?

The shares of OMCs have rallied up to 170% in the last one year. Still, they are available at low valuations and, therefore, look attractive. But going forward, a lot will depend on which way crude oil prices move.

India's oil marketing companies (OMCs) have certainly given their investors some bragging rights.

Take for example Indian Oil Corporation (IOC), the largest government-owned oil producer in the country both in terms of capacity and revenue. IOC shares have given nearly 170% returns in the last one year. The stock went from INR70 per share in January 2023 to its recent high of IN R197.

The international crude oil prices have remained benign and since May 2022 went down from USD114 per barrel to USD78 per barrel. Meanwhile, India has also managed to import oil from Russia at low discounted prices. Even when OPEC (Organization of the Petroleum Exporting Countries) members took up a production cut in December 2023 with Saudi Arabia cutting output by 1 million barrels per day, India was not really affected as Venezuelan oil was flowing into the market after the US lifted sanctions. This has helped Indian oil companies improve their margins and drive in record profitability.

OMCs profit after tax

2014-15

5,273

5,085

-2,733

2015-16

11,242

7,056

-3,725

2016-17

2017-18

2018-19

Total

13,091

22,023

19,106

8,039

6,209

33,354

21,346

7,919

6,357

35,622

16,894

7,132

6,029

30,055

2019-20

1,313-

2,637

2,683

2020-21

2021-22

2022-23

-8,974

8,242

-1,870

21,836

6,633

19,042

10,664

51,542

39,356

24,184

8,789

6,383

IOCL

BPCL

HPCL

Losses due to suppressed marketing margins.

2022-23-Due to Supressed Marketing margins

Figures in INR crore

1,138

source: et 

Jan 28 2024, 08:43

Sony-Zee merger: the deal slowly morphing into a hostile takeover by the Japanese?

Several conditions precedent and terms involving closure of overseas businesses, domestic divestments and additional provisions have been complied with by Zee, yet Sony is gunning to grab its only board seat and key managerial position, say insiders. 

While recent reports of the Japanese major's unannounced plans to terminate the deal and vehement denials from Zee on the bourses make it clear that all is not well, some people involved in the negotiations and some public shareholders feel that Zee and its shareholders are getting a raw deal.

With the so-called 'good faith' negotiations sliding into bitter shadow games fought in the media ahead of the January 20 deadline, Zee stocks have seen a significant value erosion on the bourses. From a high of INR290, it closed by January 4, the shares lost around 13% on January 11 to INR250 on the BSE. However, despite a weak market on Thursday when the Sensex lost over 300 points, Zee shares gained 1.73% fuelling hopes of a compromise. Several public institutions like LIC and mutual funds own significant stakes in Zee, making the deal a matter of immense interest for the market participants.

Cap on promoters' stake: A pertinent point mentioned in the agreement by Sony, which has not been brought to the fore, was limiting the equity that promoters may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company, or any other party.

Shutdown of profitable overseas businesses: As part of the 'closing conditions' set forth in the scheme, Zee was asked to shut certain operations in its key international markets including Russia, Thailand, and Germany. Despite these businesses being profitable for the company, these operations were closed down to honour the terms of the scheme. Should Sony decide to terminate the merger, what compensation would Zee get for the profits it has foregone from these businesses?

Divesting Margo: Despite this being a merger of two companies, it was only Zee that largely shut certain operations or was asked to divest certain businesses of the company including Margo Networks. Zee had invested over INR500 crore in Margo ahead of the merger talks. Following Sony's disinclination to take on this business, which had got into litigation, the business is in the process of divestment.

Provisions for cricket broadcast deal: To tap the sports monetisation space, Zee inked an association with Disney Star to broadcast the ICC men's and women's matches for a period of four years starting 2024. This was a significant investment meant to strengthen the sports portfolio of the merged



source:et 

Jan 17 2024, 09:51

Digital gatekeeper: How Staqu's facial-recognition system is securing Ayodhya's sacred path to faith:

A view of Idols of Hindu Lord Ram, brother Laxman, Bharat and Shatrughan, inside the temporary premises Ram temple in Ayodhya, India on August 5, 2020. Prime Minister Narendra Modi took part in the Groundbreaking ceremony for he proposed Ram Mandir temple in Ayodhya.

Ahead of the monumental Ram Mandir Pran Pratishtha, Ayodhya is relying on an Al-powered security system to ensure visitors' safety. As the city's digital gatekeeper, JARVIS scans faces, maps patterns, and predicts threats.

Ever since the culmination of the Ram Janmabhoomi Rath Yatra in the early 90s', a movement that many political commentators believe was pivotal in BJP's transformation into India's largest party, much water has flown through the river that also witnessed the journey of Rama (Ramayana), the warrior prince of Ayodhya. And as the Sarayu continues to flow as a mute spectator, faith remains untouched by time in this holy land where mythology meets technology.

With around 12,000 high-profile dignitaries landing in Ayodhya to participate in the grand event, thousands of AI cameras guard the city's saffron-laced alleys while drones keep a hawk-eye over its limits from the sky. At the centre of this security apparatus is its digital sentinel, JARVIS, an AI- based video-analytics software which analyses faces to identify potential suspects, threats, and other anomalies.

JARVIS has already been deployed at major attractions such as the Ram Janmabhoomi, Hanuman Garhi Mandir, Ram ki Pauri, Kanak Bhavan, and Nageshwar Nath Mandir. Its advanced facial- recognition tool scans thousands of faces in real-time, analyses behaviour patterns, and crunches vast data sets to instantly pinpoint potential threats, detect anomalies, and trigger alarms for advanced surveillance. According to the Ayodhya police, it can spot suspicious activity and raise an alarm to alert the security agencies.

"The police have already started pinning down a few suspects using JARVIS," Atul Rai, CEO of Staqu, tells ET Prime, adding that it's a "matter of pride" that technologies developed in India have started to challenge the dominance of countries like America, Russia, Israel, and Japan.


source: et 

Jan 16 2024, 07:31

Tehran and Red Sea sharks: India is best positioned to convey to Iran the need to rein in the Houthis

The present situation in West Asia, altered by the Israeli-Hamas war and the emergence of Iran-backed Houthi rebels as lead responders against Israel, requires a credible conversation with Iran. From an Iranian standpoint too, the overall picture is not encouraging. It has just suffered a twin terror strike killing at least 90 people. While ISIS has claimed responsibility for the attack, the political rhetoric in Tehran remains directed at the West. As a result, it has got pushed into the Russia-China bloc with doors shut on the rest.

Historically, Houthis are from a sect that is a variant of Shia Islam. While there are doctrinal differences, Houthis are today part of the larger Iran-led Shia political alliance.

Their targeting of merchant vessels in the Red Sea has forced major shipping and freight companies to avoid the Suez Canal and, instead, take the circuitous route around the Cape of Good Hope to Asia. This has increased the distance by 3,300 nautical miles, journey time by 8-10 days and raised shipping costs by 20-25%, depending on the type of vessel, besides throwing tight berthing schedules across ports out of gear. While the immediate impact is still within manageable limits, it's the cumulative long-term effect, in case the situation doesn't improve, that has all stakeholders worried.

In this context, the visit of external affairs minister S Jaishankar to Iran acquires significance. India has a healthy relationship with the Ebrahim Raisi regime, one where it has proven its effectiveness as a power that can help Tehran on a larger stage. India, for instance, played a key role in Iran becoming a BRICS member.

Saudi Arabia was not keen on Iran getting into the grouping. Which is where Tehran's application for membership ran into trouble. It was India, while agreeing to support the Saudi case, which also backed Iran and then worked hard to lobby with the rest to see it through. This was an important signal from a regional balance of power perspective for Iran. That India decided to press ahead despite its close ties with the US also helped strengthen credibility of the relationship.

 India will, thus, look to use its channels to impress upon Iran to proactively de-escalate the prevailing situation in the Red Sea as attacks by Houthi rebels are not targeted at just Israeli interests but all merchant vessels. And, despite Tehran's denials, the fact is that it may end up on the wrong side of the ledger with many countries, including India, if all commercial maritime traffic in area remain in the danger of being hit.


In many ways, India is positioned best to convey to Iran where this could lead if it does not reconsider its position. And if Iran were to take the Indian side seriously, it might just provide an opening to rebuild bridges of engagement it desperately needs to step out of a difficult political corner it finds itself in, with limited diplomatic options and increasing dependencies on Russia and China. In fact, India may just provide it the heft to rebalance, recalibrate and reboot.


source:et