Latest news with #IOCL
Hindustan Times
13 hours ago
- Hindustan Times
Kolkata: Protestors release LPG from dozens of cylinders amid clashes at IOCL plant; 90 people arrested
A major disaster was averted on Tuesday evening at the Indian Oil Corporation Limited's (IOCL) bottling plant in Budge Budge, South 24 Parganas near Kolkata, when protestors began releasing liquefied petroleum gas (LPG) from several cylinders amid a clash over wage-related issues. Representational image. (Bloomberg File) 'It could have been a disaster had anyone lit a matchstick. Protestors were pressing the nozzles of LPG cylinders to release the highly inflammable gas, which was spreading everywhere and we could smell it. People were carrying LPG cylinders on their shoulders and walking while releasing the LPG,' a police official who was present at the spot said. According to a senior IOCL official, around 45,000–50,000 LPG cylinders are refilled at the plant every day and they are supplied to Kolkata and nearby areas. A second official at the plant said the clash broke out between two groups of LPG transporters and their drivers over payment of wages. 'An incident took place on Tuesday evening near the IOCL plant in Budge Budge. IOCL workers were not involved. We have lodged a complaint with the police. The police are investigating,' said KM Thakur, chief general manager (LPG) of IOCL in West Bengal. The violence, which erupted around 7:30pm and lasted for several hours, left at least five policemen injured. By Wednesday afternoon, the police had registered three FIRs and arrested over 90 individuals in connection with the incident, according to a senior official. A video clip of the clash surfaced on social media on Wednesday where people could be seen releasing LPG from multiple cylinders. It was also shared by West Bengal BJP MLA Suvendu Adhikari, who is also the leader of the opposition in the state. 'The dangerous chaos in Budge Budge at the Indian Oil Corporation Ltd's LPG Bottling Plant is a glaring example of the TMC's syndicate culture spiraling out of control! The ruling party's factions, in their greed to dominate loading-unloading operations, have pushed workers to the edge,' Adhikari wrote on X. The agitators also went on a rampage during the clash and damaged several two-wheelers, police said. 'Adhikari has a vast experience in operating syndicates. Workers in a factory may be having certain demands. But the way protests were triggered at the IOCL plant was very dangerous. Police have taken immediate action. The administration is doing its job,' Debangshu Bhattacharya, TMC state spokesperson.
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Business Standard
a day ago
- Automotive
- Business Standard
80 vehicles impounded as fuel ban on overage vehicles begins in Delhi
Amid high surveillance, tight security and multi-agency coordination, the fuel ban on overage vehicles kicked in Delhi on Tuesday with 80 such vehicles being impounded, officials said. Petrol pumps across Delhi have been asked not to provide fuel to end-of-life (EoL) vehicles starting Tuesday under the directions of the Commission for Air Quality Management (CAQM), with the Transport Department along with the Delhi Police and traffic personnel putting in place a detailed enforcement strategy to ensure strict compliance. According to an official from the Transport Department, 98 vehicles were captured on camera, out of which 80 were impounded -- 45 by the Transport Department, 34 by the Delhi Police and one by the Municipal Corporation of Delhi (MCD). Petrol pumps either did not receive overage vehicles or they shared that there was not much of an issue on the first day. The Transport Department has chalked out a detailed deployment plan involving personnel from its organisation, Delhi Police, Traffic Police and the MCD. Stations like Sai Ram Filling Station in Sector 11, Rohini; IOCL Karun Filling Station in Sector 11, Rohini; and the IOCL outlet at Ground Floor, Sector 24, Rohini confirmed that no overage vehicles approached for fuel. At the petrol pump near Bhai Veer Singh Marg in Lutyens' Delhi, a policeman said two vehicles were impounded. "The owners did ask us to let the vehicles go but there was not much resistance. The procedures were followed as required and the matter was handled without any disruption," he said. In Moti Bagh, a pump attendant at the IOCL station said all arrangements were in place with the deployment of officers and placement of a banner informing customers about the ban. "We have received full training from the pump head. Staff were clearly told not to fuel overage vehicles. The process was being followed strictly and police were helping handle any issues smoothly," said an employee. At the Dhaula Kuan HP station, while there was no police presence, an employee said if an EoL vehicle was arriving, it would be denied fuel immediately. "The pump serves high-profile customers, so there were no arguments or resistance," he said, adding the staff had been instructed in advance and the government was helpful throughout the process. According to police, 24 vehicles were impounded from the commencement of the drive from 6 am till 1 pm. Special Commissioner of Police (Traffic) Ajay Chaudhary told PTI, "The main objective of this drive is to make the environment of Delhi better and reduce the pollution. This is an ongoing drive and from November 1, areas around Delhi will also implement this policy of not giving fuels to ELVs (end-of-life vehicles)." He said the owners of ELVs can retrieve their vehicles from the scrappers in 15 days. However, they will have to pay a fine and get the vehicle registered outside Delhi (where such vehicles are allowed) after getting an NOC from the Transport Department, he explained. "Special Automatic Number Plate Reader cameras have been installed at the petrol pumps for the detection of ELVs. We appeal to the people of Delhi not to use ELVs and take steps that will help in reducing the pollution of Delhi," he said. There were some technical glitches too as the cameras wrongly detected a valid vehicle as an overage vehicle. At a petrol pump on Pusa Road, a Hyundai I-10 petrol car came and the speaker started announcing that it was an overage vehicle. "However, when the registration certificate of the vehicle was checked, it was found to be valid up to March 29, 2028. The police officials at the station were informed and after checking the documents, the car was allowed to go," said a petrol pump attendant. At the BPCL Vaibhav filling station in west Delhi's Vikas Puri, an overage vehicle came for filling petrol but ended up getting CNG after being informed about the fuel ban. "We have clearly displayed banners stating that overage vehicles will not be refuelled. However, around 4.30 am today, one such car arrived. While we refused to provide petrol, the driver went ahead and filled CNG instead," Vaibhav, owner of the fuel pump, said. According to officials, overage vehicles running on CNG are exempt from action. A 2018 Supreme Court judgment had banned diesel vehicles older than 10 years and petrol vehicles older than 15 years in Delhi. A 2014 National Green Tribunal order also prohibits the parking of vehicles aged over 15 years in public places.
Mint
2 days ago
- Business
- Mint
Recommended stocks to buy today, 1 July, by India's leading market experts
Stock market today: The Indian stock market closed the final trading session of June in the red, as investors booked profits after a strong four-day rally. Still, it marked the fourth straight month of gains, with the Nifty 50 rising 3.10% and the Sensex up 2.65% in June—taking their cumulative four-month gains to over 15%. Notably, both indices have rebounded nearly 17.3% from their April lows, marking their strongest recovery in recent memory. Stocks to trade today, recommended by Trade Brains Portal for 1 July: Pharma-grade hexane, a new product the company launched in FY25, is expected to expand into new markets. It also retains the capacity to produce food-grade hexane. In FY25, the highest volume was attained by hexane, MTO, and lean butane for the company. The company spent ₹673 crore on capital expenditures in FY25. Its capital expenditures for maintenance remained between ₹200-250 crore. Its total capital expenditure for the next two years is projected to be between ₹700-800 crore, with maintenance capital expenditures falling within the same range ( ₹250 to ₹300 crore). The company has been paying a consistent dividend to its shareholders. The Board of Directors of the Company has recommended an Equity Dividend (Final) of 50% for FY25, i.e., ₹5 per equity share of face value ₹10 each on the paid-up share capital. As IOCL is involved in the same industry, the company benefits from operational synergies, such as pooled crude oil sourcing through IOCL and the parent company's bulk purchase. Additionally, more than 90% of CPCL's output is purchased by IOCL, which meets the parent company's product needs in South India. Also Read: India Inc's strong start to FY26 faces reality check on earnings breadth, valuations JSW Energy Ltd - Current price: ₹ 522 The company's generation capacity has grown with a CAGR of 24%, from 4,559 MW in FY21 to 10,875 MW in FY25. It is planning to triple the generation capacity to reach 30,000 MW by FY30. Total net generation from the thermal assets segment was up 22% YoY at 6.2 BUs, driven by the contribution from KSK Mahanadi, commissioning of Utkal Unit-2, and higher LT volumes at Vijayanagar. As of Q4 FY25, the company's total renewable energy capacity was 12,527 MW, with wind at 5,009 MW, hydro at 1,631 MW, solar at 3,589 MW, and hybrid at 2,298 MW. The company generated 32,383 MU of electricity in FY25, which is 16% higher than FY24. In Q4FY25, total revenue increased 21% YoY to ₹3,497 crore while EBITDA at ₹1,512 crore was up 17% YoY. The company generated PAT of ₹408 crore, up by 16% YoY, while cash profit for the quarter at ₹744 crore increased by 8% YoY. The company is presently constructing various power projects to the tune of 12.8 GW, with a vision to achieve a total power generation capacity of 30 GW by 2030. The company expects cumulative incremental capex of ₹1,30,000 crore over FY2026-30. The company is targeting to increase energy storage capacity to 40 GWh. Two stocks recommended by MarketSmith India for 1 July: Three stocks to trade today, 1 July, as recommended by NeoTrader's Raja Venkatraman: P/E: 48.75 52-week high: ₹225.25 Volume: 2.18 M Db Corp (current market price ₹284.65) P/E: 13.75 52-week high: ₹405 Volume: 244.87 K P/E: 27.45 52-week high: ₹658 Volume: 821.18 K Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Its trade name is William O'Neil India Pvt. Ltd, and its Sebi registration number is INH000015543. Raja Venkatraman is the co-founder of NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Stocks to trade today: Trade Brains Portal recommends two stocks for 1 July
Indian stock market benchmarks Sensex and the Nifty 50 snapped their four-day winning streak on Monday. The Sensex closed the day at 83,606.46, down 452 points, or 0.54 per cent, while the Nifty 50 settled at 25,517.05, with a loss of 121 points, or 0.47 per cent. Today, we recommend two stocks, one from the oil and gas sector, which continues to benefit from stable energy demand, and another from the green energy sector, which is gaining traction amid the global push for sustainability. Stocks to trade today, recommended by Trade Brains Portal for 1 July: Chennai Petroleum Corporation Ltd -Current price: ₹ 681 Pharma-grade hexane, a new product the company launched in FY25, is expected to expand into new markets. It also retains the capacity to produce food-grade hexane. In FY25, the highest volume was attained by hexane, MTO, and lean butane for the company. The company spent ₹673 crore on capital expenditures in FY25. Its capital expenditures for maintenance remained between ₹200-250 crore. Its total capital expenditure for the next two years is projected to be between ₹700-800 crore, with maintenance capital expenditures falling within the same range ( ₹250 to ₹300 crore). The company has been paying a consistent dividend to its shareholders. The Board of Directors of the Company has recommended an Equity Dividend (Final) of 50% for FY25, i.e., ₹5 per equity share of face value ₹10 each on the paid-up share capital. As IOCL is involved in the same industry, the company benefits from operational synergies, such as pooled crude oil sourcing through IOCL and the parent company's bulk purchase. Additionally, more than 90% of CPCL's output is purchased by IOCL, which meets the parent company's product needs in South India. Risk factors: The company is exposed to crude oil volatility, especially during scenarios like war or geopolitical tensions. The company is highly sensitive to gross refining margins, which may impact the company's operating performance. Government decisions and policies, such as the levying of windfall taxes and tighter regulations, pose constant risks to the company. Also Read: India Inc's strong start to FY26 faces reality check on earnings breadth, valuations JSW Energy Ltd - Current price: ₹ 522 The company's generation capacity has grown with a CAGR of 24%, from 4,559 MW in FY21 to 10,875 MW in FY25. It is planning to triple the generation capacity to reach 30,000 MW by FY30. Total net generation from the thermal assets segment was up 22% YoY at 6.2 BUs, driven by the contribution from KSK Mahanadi, commissioning of Utkal Unit-2, and higher LT volumes at Vijayanagar. As of Q4 FY25, the company's total renewable energy capacity was 12,527 MW, with wind at 5,009 MW, hydro at 1,631 MW, solar at 3,589 MW, and hybrid at 2,298 MW. The company generated 32,383 MU of electricity in FY25, which is 16% higher than FY24. In Q4FY25, total revenue increased 21% YoY to ₹3,497 crore while EBITDA at ₹1,512 crore was up 17% YoY. The company generated PAT of ₹408 crore, up by 16% YoY, while cash profit for the quarter at ₹744 crore increased by 8% YoY. The company is presently constructing various power projects to the tune of 12.8 GW, with a vision to achieve a total power generation capacity of 30 GW by 2030. The company expects cumulative incremental capex of ₹1,30,000 crore over FY2026-30. The company is targeting to increase energy storage capacity to 40 GWh. Also Read: Nykaa's premium bet: A smart strategy if it delivers Market Recap The Nifty 50 had a gap-up start to the day, opening at 25,661.65, up 23.85 points, or 0.09%, from the closing price of 25,637.80 of the previous day. The index declined by -120.75 points, or -0.47%, on Monday, with a day-high of 25,669.35 in the morning and closing at 25,517.05. The RSI was at 63.84, below the overbought zone of 70, and the Nifty closed above all four of the 20/50/100/200-day EMAs on the daily chart. Sensex concluded the day at 83,606.46, down -452.44 points, or -0.54%, with an RSI of 62.51. The Nifty PSU Bank, which closed at 7,202.40, up 186.90 points or 2.66%, was among the top gainers. Major stocks like Bank of Maharashtra, which soared 5.2%, and Punjab National Bank, and Bank of Baroda, which jumped more than 3%, and other stocks, including Union Bank of India, Canara Bank, and Punjab & Sind Bank, which increased more than 2%, lifted the index on Monday. Additionally, the Nifty India Defence Index gained 82.05 points, or 0.93%, to close at 8,870.40. Top gainers of this index were Zen Technologies, Bharat Dynamics, Data Patterns (India), and Mazagon Dock Shipbuilders, increasing by more than 2% on Monday. Also Read: FY25 dividend payouts: Cash-rich BFSI and IT companies dominate The Nifty Private Bank Index fell -251.50 points, or -0.88%, and closed at 28,254.60 points. Major stocks like Axis Bank, which declined -2.1%; Kotak Mahindra Bank; and ICICI Bank, which declined by more than 1%, on Monday. Asian markets on Monday showed mixed signals. Hong Kong's Hang Seng also declined -211.87 points, or 0.88%, to 24,072.28. The Kospi in South Korea closed at 3,071.70, up 0.52%, or 15.76 points. Japan's Nikkei 225 climbed up 336.60 points, or 0.83%, settling at 40,487.39 points, registering the best monthly performance since February 2024. Shanghai's Composite Index closed the day higher at 3,444.43, up 20.20 points, or 0.59%. At 5:00 p.m., Dow Jones Futures were up 271.03 points, or 0.62%, on the US stock exchange at 44,090.30. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
5 days ago
- Business
- Business Standard
Confidence Petroleum bags contract worth Rs 42-cr from PSUs
Confidence Petroleum India announced that it has received been awarded bottling assistance contracts aggregating to Rs 42.09 crore from prominent Public Sector Undertakings (PSUs). The company has received contracts from Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL). The contracts include assistance for bottling 3 lakh cylinders for BPCL at Kollam and 1.2 lakh cylinders for HPCL at Trivandrum, both with a contract duration of 10 years. Additionally, the company will assist in bottling 90,000 cylinders for IOCL at Murbad over a three-year term. The company said that it has already participated in the tender issued by IOCL for Sarangpur and has been shortlisted for the same. The Letter of Intent (LOI) is expected to be issued shortly, confirming the allocation. Confidence Petroleum India is a fully integrated LPG & CNG company. Its segments include LPG Cylinder Manufacturing and auto LPG and CNG dispensing stations. The companys consolidated net profit surged 129.61% to Rs 22.80 crore on 46.67% jump in revenue from operations to Rs 924.81 crore in Q4 FY25 over Q4 FY24. The counter declined 9.35% to Rs 50.59 on the BSE.
