Trump sanctions fail to stop inflow! Some Indian refiners step up Russian crude oil intake; Indian Oil, Nayara boost purchases

Trump sanctions fail to stop inflow! Some Indian refiners step up Russian crude oil intake; Indian Oil, Nayara boost purchases

Representative image (AI-generated) State-run Indian Oil Corp and Rosneft-backed Nayara Energy have increased their purchases of Russian crude in January. This comes even as India’s overall imports from Russia have declined under US sanctions.Reliance Industries, India’s largest buyer over the past year, along with several other refiners, has not received any supplies this month. This…

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Reliance Industries shares fall 5%! Over Rs 1 lakh crore eroded from M-cap — What triggered the fall?

Reliance Industries shares fall 5%! Over Rs 1 lakh crore eroded from M-cap — What triggered the fall?

Reliance Industries Limited (RIL) stock tumbled 5% on Tuesday, falling to an intraday low of Rs 1,497.05 on the Bombay Stock Exchange. The share price plunged after RIL denied a Bloomberg report claiming that its Jamnagar refinery will be receiving three ships of Russian crude oil.Today’s session recorded the stock’s steepest intraday decline since June…

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