More Stories

Informist, Friday, Apr. 17, 2026

MUMBAI – Shares of oil marketing companies are likely to rise next week after Iran's foreign minister Friday said the Strait of Hormuz will be open for trade till a ceasefire is in place between Israel and Lebanon. Crude oil prices dropped sharply immediately after the announcement, which is likely to ease pressure of higher costs for oil companies.

At 1850 IST, crude oil June futures were down more than 11% to around $88 per barrel. The contract had been trading between $95-$100 per barrel for the most part of the week.

While crude oil prices fell, analysts believe it will take time for oil and gas supply to reach normal levels as quite some infrastructure has been damaged in the war. Further, stocks have already risen in hope of de-escalation in war and part of the announcement is likely factored into stock prices.

"...most stocks (of gas companies) currently imply crude oil levels of USD 85–89/bbl, suggesting much of war normalization premium is already priced in. Hence, de-escalation driven rallies look largely played out," Elara Securities said in a report on Thursday.

The Nifty Oil & Gas index has risen nearly 6% so far in April which came after a sharp fall of 12% in March. Gas companies were the major stocks that rose in April with Adani Total Gas, Mahanagar Gas, Indraprastha Gas climbing 16-24% this month. While Adani Total Gas was largely flat in March, other two gas companies had fallen 15-24% after the war broke out in West Asia on Feb. 28.                                                                                                                   

Some stock-specific actions are likely next week due to March quarter earnings. Among major companies, Chennai Petroleum Corp. is scheduled to announce its earnings Friday. Elara Securities expects the company's net profit to jump more than fivefold to INR 24.91 billion and revenue to rise nearly 4% to INR 178.67 billion.

TOP HEADLINES

* EIA says US natural gas stocks up 59 bcf in week ended Apr 10
* NTPC Green's arm operationalises 150 MW solar power project in Rajasthan
* IPO Alert: Om Power Transmission to list Fri; issue price set at INR 175/shr
* REUTERS: RBI asks state oil refiners to curb spot dollar buying
* CESC signs pact with 4 cos to procure 600 MW from hybrid energy projects
* CCI dismisses petition to probe alleged solar power tender rigging by Adanis
* BPCL arm's JV to invest $2.8 bln in oil, gas production project in Brazil
* GAIL, TUSCO sign pact to set up 600 MW solar power project in Uttar Pradesh
* Coal ministry to launch 15th round of commercial coal mine auctions Friday
* India, US discuss boosting partnership in energy sector to deepen econ ties
* GMR Airports Mar passenger traffic dn 1.5% YoY to 10.41 mln; up 0.9% in FY26
* India Apr LPG imports seen higher on mo; still below pre-West Asia war level
* Official says unaware of price stabilisation fund for petrol, diesel, LPG
* NCLT approves merger of Advanced Rail Controls with Concord Control Systems
* CG Power arm, Japan fund to invest in fabless semiconductor co EdgeCortix
* ACME Solar files writ petition against GST demand in Rajasthan High Court
* GAIL to invest INR 38 bln for 700-MW solar projects in UP, Maharashtra
* Supreme Petrochem commissions phase II of expandable polystyrene project
* Adani arm, Hitachi Energy start HDVC link to supply 1 GW green power to Mumbai
* NHPC OKs monetising future cash flow of Uri-II, Dhauliganga power stations
* IEA alters 2026 global oil demand view, sees it down 80,000 bpd on W Asia war
* IPO Alert: Om Power sees strong demand on last day; subscribed 3.3 times
* GAIL to set up 600 MW greenfield solar project in UP for INR 32.95 bln
* OPEC cuts Apr-Jun oil demand growth view by 500,000 bpd; output plummets Mar
* Nomura says diesel, ATF export duty hike will benefit OMCs, mainly HPCL
* OPEC lowers Apr-Jun oil demand growth view by 500,000 bpd on West Asia war
* Govt to get INR 30 bln fortnightly from diesel, ATF export duty hike: Source
* At least 3 state govts to relax fuel curbs for telecom cos soon, says source
* NTPC arm begins commercials ops of 250 MW of Tehri pumped storage project
* Govt hikes export duty on diesel, ATF; ups duty, cess on high-speed diesel
* Adani Green Energy's FY26 sales up 34% on year at 37.6 bln units
* India buying energy from Russia, US; Qatar vows continued fuel supply - govt
* India buying energy from Russia, US, Australia; Qatar committed to supply
* Fee cuts to have limited revenue impact for airports, S&P Global says

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

End

US$1 = INR 92.93

Reported by Anshul Choudhary

Edited by Deepshikha Bhardwaj

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 (22) 6985-4000/+91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.