More Stories

Informist, Friday, Jul. 11, 2025

NEW DELHI - Shares of oil and gas companies are expected to be rangebound next week with an upward bias amid a lack of any specific trigger, analysts said. The Nifty Oil and Gas index is seen moving in a range of 11500 and 12100 points next week, a Mumbai-based technical analyst said.

The sectoral index closed 1.3% lower Friday at 11,759.50. This week, the Nifty Oil and Gas index closed around 2% lower, underperforming the benchmark Nifty 50, which fell 1.2%. Barring Petronet LNG, all other constituents of the sectoral index ended in the red during the week. GAIL (India) and Gujarat Gas were the worst performers during the week, declining 6% and 4.5% respectively.

Going ahead, analysts expect share prices to be partly dictated by the July quarter earnings. Oil marketing companies are likely to fare better in the June quarter, while gas companies could see subdued demand, an analyst said. 

Hindustan Petroleum Corp., Indian Oil Corp., and Bharat Petroleum Corp. could 'steal the show' in the latest quarter with retail pump margins exceeding INR 8 per litre, which would offset inventory losses, Nirmal Bang Institutional Equities said in a report Friday. 

An analyst at a Mumbai-based brokerage firm said oil marketing companies could fare better than other companies going head, as they expect crude oil prices to hover around $70 a barrel. Upstream companies could gain from steady crude realisation, the analyst said.

Amid worries of a lack of fresh discoveries of oil wells, Petroleum and Natural Gas Minister Hardeep Singh Puri said this week that India is exploring 250,000 square kilometres under the Open Acreage Licensing Policy's tenth round and is close to discovering an oilfield the size of Guyana in the Andaman Sea.  "India's target is to increase the country's exploration acreage to 0.5 million sq km by 2025 and 1.0 million sq km by 2030," Puri had said.

WTI crude oil futures climbed over $67 on Friday driven by anticipation of US President Donald Trump's announcement of potential new sanctions, which has amplified concerns regarding future supply, Kotak Securities said in a note. Supply risks have also emanated from Houthi attacks on cargo vessels in the Red Sea this week.

TOP HEADLINES

* HC upholds arbitration award asking ONGC to pay $14.7 mln to Jindal Drilling
* India opens 250,000 sq km for energy exploration, seeks ties at OPEC meet
* Petronet LNG signs INR 12 bln regasification pact with Deepak Fert arm
* OPEC expects oil demand to rise to 123 mln bpd by 2050, India leading growth
* Fin min may compensate oil cos INR 300 bln for FY25 under-recovery: Official
* GAIL, Oil India in pact to extend 900,000 scm/day gas supply deal for 15 yrs
* Oil India extends natural gas supply pact with GAIL for 15 more years
* EIA ups Brent crude price forecast to $69/bbl in 2025 on geopolitical risks
* Supreme Industries gets letter of acceptance from BPCL for LPG cylinders
* Castrol India appoints Mrinalini Srinivasan as CFO from Jul. 28 for 5 yrs
* Castrol India to mull dividend, declare Apr-Jun earnings on Aug 5
 

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 85.80

Reported by Anand JC

Edited by Saji George Titus

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.