⁠Fuel Crisis In India: Why State Governments Matter Most? | Govindraj Ethiraj | The Core Report

On Episode 826 of The Core Report, financial journalist Govindraj Ethiraj talks to Narendra Taneja,Chairman of the Independent Energy Policy Institute as well as Anindya Banerjee, Senior VP and Head of Commodity Research (Currency, Commodities and Interest Rates) at Kotak Securities. ____________________________________________ In Partnership With: Markets move fast. Stay ahead with InvestingPro—your all-access pass to 300,000+ instruments, pro tools & real-time alerts. No noise. Just market intelligence. InvestingPro—power your portfolio. Download Now: https://www.investing-referral.com/af... ____________________________________________ SHOW NOTES (00:00) Stories of the day (01:09) No let up in West Asia as bombing continues as the US might resort to more desperate moves as opposed to expectations of pulling back (02:30) Markets recover over 2,000 points, will they hold (04:24) The rupee hits a new record low. What is the rupee tracking? (11:45) India’s gas shortages are compounded by unique distribution challenges Register for our event “Who Builds the Future of AI?” https://luma.com/x6oyyjiz Markets: India's equity markets extended their recovery for a third straight session. The BSE Sensex has jumped over 2000 points in three days, raising the key question, what is driving markets right now amid global uncertainty? There is no real positive development from the Middle East war. US President Donald Trump says the war may end soon, but with continued bombings and no visible action, expecting a resolution is too early. Escalation risks remain. India is securing more crude and gas, especially from Russia. This offers some short term relief, but shortages and second order impacts on inflation and inputs like fertilisers may emerge in coming months. Markets have rebounded nearly 2100 points, driven by value buying and short covering. Sustainability remains uncertain. Sensex closed at 76704, Nifty 50 at 23777. Midcap and small cap indices outperformed. Globally, Wall Street turned volatile after Iran energy facilities were hit. Brent crude rose near 106, raising inflation concerns. Investors await US Federal Reserve cues and Jerome Powell’s outlook. Back home, India approved 3.6 billion dollar investment to develop 100 industrial parks, boosting manufacturing and growth. The Rupee: The rupee fell to a record low of 92.63 against the dollar. Rising crude prices, foreign outflows of 8 billion dollars, and global risks are key drivers. Is the rupee tracking oil prices or broader macro factors? What is the outlook? Insights from Anindya Banerjee, Kotak Securities. India’s Fuel Supply: India is assessing fuel export requests from neighbours and will allow exports only if surplus is available, as the Middle East conflict disrupts supplies via the Strait of Hormuz. India continues supplying fuel to Bangladesh, Nepal, Bhutan, Sri Lanka, and Maldives. Several oil and LNG shipments remain stranded. With 20 percent of global oil passing through Hormuz, supply risks remain high. Distribution challenges within India continue. Insights from Narendra Taneja on supply, demand, and outlook. Piped Gas: India added over 120000 new piped gas connections amid LNG disruptions. Demand may rise with incentives and awareness, especially in cities like Mumbai and Delhi. Moves by Standard Chartered and Citibank: Citibank credit card users have moved to Axis Bank. Standard Chartered is reviewing sale of its credit card business, with Kotak Mahindra Bank and Federal Bank as potential buyers. Stay ahead of Indian markets, Sensex rally, Nifty trends, Indian rupee falling, oil shock explained and fuel crisis in India. Understand Middle East tensions, state governments role in fuel prices, inflation risks and global market impact with Govindraj Ethiraj on The Core Report. Subscribe for sharp business news and market insights. #IndianEconomy #StockMarketIndia #RupeeFall #OilShock #FuelCrisis #TheCoreReport #TheCore Join The Core Insider to get access to perks:    / @thecore_in   Listeners! We await your feedback: https://tinyurl.com/TCR-Listener-Survey The Core & The Core Report is ad supported & FREE for all readers & listeners. Write in to [email protected] for sponsorships & brand studio requirements. For more of our coverage check out thecore.in (https://www.thecore.in/) Support the Core Report (https://tinyurl.com/Support-the-Core-...) Join & Interact anonymously on our WhatsApp channel (https://tinyurl.com/The-Core-WhatsApp...) Subscribe to our Newsletter (https://www.thecore.in/newsletters/th...) Follow Us on Social Media for More Updates: Twitter (  / the_core_in  ) Instagram (  / the.core.in  ) Facebook (  / thecore.biz  ) Linkedin (  / thecore-in  ) Youtube (   / @thecore_in  )