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Informist, Friday, May 16, 2025

MUMBAI - Shares of oil and gas companies may hold on to the positive momentum generated this week, having outperformed the benchmark Nifty 50's rise, analysts said. The Nifty Oil & Gas index, which closed at 11595.10 points on Friday, might just head towards 12,500 points in around three-four weeks, a technical analyst at a domestic brokerage firm said.

"All sectors saw a breakout this week as India-Pakistan tensions eased," the analyst noted. For the week, the Nifty Oil & Gas index gained 5.3%, while the Nifty 50 gained 4.2%. Investors will monitor the earnings of Oil and Natural Gas Corp. Ltd., Oil India Ltd. next week.

For the March quarter, GAIL (India)'s financials turned out better than expected. The company's bottom line of INR 20.5 billion, down 6% on year and earnings before interest, taxes, depreciation, and amortisation of INR 32.2 billion, down around 10%, beat expectations due to a strong gas trading performance. The management of the state-owned enterprise maintained its guidance on volume growth for natural gas transmission around 138-139 million standard cubic meter per day for the ongoing financial year. 

Friday, WTI crude oil fell marginally to around $61.2 per barrel on Friday. Iran being willing to agree to a deal with the US in exchange for getting economic sanctions lifted has the potential to loosen the global crude demand-supply balance. The Organisation of Petroleum Exporting Countries and its allies have been increasing supply, even though OPEC trimmed its forecast for growth in supply of oil from the US and other producers outside the wider OPEC+ group this year. 

Analysts expect crude oil prices to trade lower on expectation of a potential US-Iran deal. "... while an unexpected build in US crude oil inventories last week heightened investor concerns about oversupply," AngelOne said in a report on Friday. Despite these worries, crude oil is on track for its second straight weekly gain, buoyed by US-China trade deal, according to Kotak Securities.

Meanwhile, concerns about tightening global supplies amid higher demand are boosting European natural gas futures, as they are set for their third consecutive weekly gain. This is the longest such run since winter, Kotak Securities said. Increased imports of liquefied natural gas by some Asian countries are currently intensifying the competition for global gas flows. 

TOP HEADLINES

* GMR Airports gets order to manage Indira Gandhi Intl Airport cargo terminal
* Ardour to convert some more allotted warrants into Adani Green Energy shares
* Analyst Concall: JSW Energy plans INR 150 bln-INR 180 bln capex in FY26
* Balrampur Chini Mills Jan-Mar PAT rises 11.5% YoY to INR 2.2 billion
* Earnings Review: JSW Energy Jan-Mar consol PAT, revenue up on higher output
* Earnings Outlook: Petronet LNG Jan-Mar PAT seen up despite revenue fall
* IEA cuts growth in global oil demand on economic headwinds, record EV sales
* Earnings Outlook: Weak asset capitalisation may limit Power Grid's Q4 growth
* CESC Jan-Mar PAT rises 6.3% on year to INR 2.18 billion
* PRESS: RIL secures dual-currency loan of $2.9 billion from 55 banks
* India urges International Atomic Energy Agency supervision of Pak nuke arms
* Analyst Concall: Torrent Power sees FY26 transmission capex around 10 bln
* Earnings Outlook: High tax rate, other costs may hit JSW Energy Jan-Mar PAT
* IREDA says CMD Pradip Kumar Das's tenure extended till Jun 30, 2026
* Earnings Review: Tata Power Jan-Mar consol PAT up 16.5% YoY to INR 10.43 bln
* Earnings Review: Torrent Power Jan-Mar PAT more than doubles on tax reversal
* OPEC retains global oil demand growth estimate for 2025, 2026 at 1.3 mln bpd
* BASF India Jan-Mar consol PAT falls 83.3% YoY as sales fall 2.2%
* Analyst Concall: GAIL to source 5-6 mln tn of additional LNG cargo by 2030
* GAIL sees FY26 capex at INR 107 bln; renewables, petrochem gets large outlay
* HBL Engg gets railway research body's nod for version 4 of Kavach Systems
* GE Vernova to invest INR 1.4 bln for capacity addition at two units
* Adani Green arm to operationalise 50 MW additional solar capacity at Khavda
* Data Alert: India Apr power generation contracts 2% on yr to 133.66 bln kWh
* GAIL, Karnataka govt sign pact to set up 1 GW renewable energy projects
* Earnings Review: GAIL Jan-Mar revenue rises 10% on year, but PAT down 6%
* Earnings Outlook: GAIL EBITDA to fall YoY on weaker marketing performance
* Reliance Power arm wins SJVN tender for 350 MW of solar power capacity
* Sarit Maheshwari named new CEO of NTPC Green; incumbent returns to parent co
* ACME Solar commissions first phase of ACME Sikar solar project in Rajasthan

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 85.51

Reported by Anand JC

Edited by Deepshikha Bhardwaj

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