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Petronet expects to generate roughly Rs 5,000 crore in gross revenue over the contract period. The company described the deal as a major step toward expanding its portfolio beyond LNG by offering ethane import infrastructure to third parties and supporting India’s petrochemical ecosystem.
ONGC, meanwhile, plans to import ethane through Very Large Ethane Carriers to meet the feedstock requirements of its subsidiary ONGC Petro Additions (OPaL), which runs a large ethylene cracker complex at Dahej. The agreement ensures secured capacity for ONGC’s long-term ethane needs.
The term sheet was signed in New Delhi in the presence of ONGC CMD Arun Kumar Singh and Petronet LNG MD & CEO Akshay Kumar Singh. The companies noted that although ONGC is a promoter of Petronet, the transaction has been executed on an arm’s-length basis.
Petronet LNG is a joint venture promoted by four Oil & Gas Maharatna PSUs—GAIL, ONGC, IOCL, and BPCL—each holding a 12.5% equity stake. It handles nearly two-thirds of India’s LNG imports and operates 43% of the country’s regasification capacity, generating about Rs 51,000 crore in FY 2024–25. With terminals at Dahej and Kochi offering a combined 22.5 MMTPA capacity, the company is expanding Dahej to the same level and developing a new 5 MMTPA terminal at Gopalpur. It is also building a PDH-PP complex and ethane-propane handling facilities at Dahej, strengthening its role in India’s natural gas and petrochemical ecosystem.
On a consolidated basis, net profit of Petronet LNG declined 4.63% to Rs 830.30 crore while net sales declined 15.47% to Rs 11009.13 crore in Q2 September 2025 over Q2 September 2024.
Linde India Ltd, Petronet LNG Ltd, Asian Paints Ltd, Nippon Life India Asset Management Ltd are among the other stocks to see a surge in volumes on BSE today, 04 December 2025.
Schaeffler India Ltd witnessed volume of 50370 shares by 10:46 IST on BSE, a 9.02 times surge over two-week average daily volume of 5586 shares. The stock increased 0.70% to Rs.3,918.85. Volumes stood at 1369 shares in the last session.
Linde India Ltd registered volume of 15702 shares by 10:46 IST on BSE, a 8.77 fold spurt over two-week average daily volume of 1790 shares. The stock rose 0.66% to Rs.5,808.90. Volumes stood at 623 shares in the last session.
Petronet LNG Ltd notched up volume of 3.75 lakh shares by 10:46 IST on BSE, a 8.61 fold spurt over two-week average daily volume of 43571 shares. The stock rose 3.33% to Rs.277.90. Volumes stood at 1.07 lakh shares in the last session.
Asian Paints Ltd saw volume of 2.11 lakh shares by 10:46 IST on BSE, a 6.1 fold spurt over two-week average daily volume of 34651 shares. The stock increased 0.83% to Rs.2,976.40. Volumes stood at 44838 shares in the last session.
Nippon Life India Asset Management Ltd witnessed volume of 3.19 lakh shares by 10:46 IST on BSE, a 5.2 times surge over two-week average daily volume of 61336 shares. The stock increased 1.55% to Rs.833.15. Volumes stood at 35782 shares in the last session.
IT, realty and auto shares advanced while media, consumer durables and private bank shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 158.51 points or 0.19% to 85,265.32. The Nifty 50 index added 47.75 points or 0.18% to 26,033.75. In the past four trading sessions, the Nifty and Sensex declined 0.88% and 0.72%, respectively.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.19% and the S&P BSE Small-Cap index fell 0.32%.
The market breadth was negative. On the BSE, 1,804 shares rose and 2,314 shares fell. A total of 193 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.52% to 10.82.
Fitch Ratings Upgrade:
Fitch Ratings revised India’s GDP growth forecast for FY26 to 7.4%, from 6.9% projected earlier. Fitch says the growth reflects solid real income gains, buoyant consumer sentiment and the impact of recent GST reforms.
The agency expects growth to moderate to 6.4% in FY27 as the economy moves closer to its potential, with domestic demand, especially consumer spending, remaining the primary engine. Public investment is seen slowing, while private investment is expected to pick up in the latter half of FY27 as financial conditions ease.
Fitch also flagged external vulnerabilities, noting that India faces an effective tariff rate of around 35% on its exports to the US, one of the highest among major economies. Any trade agreement to reduce this burden would help lift external demand, the agency said.
IPO Update:
Meesho received bids for 1,69,68,37,950 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 6.11 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.
Aequs received bids for 41,31,55,560 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 9.83 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.
Vidya Wires received bids for 31,96,26,720 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 7.38 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.
Buzzing Index:
The Nifty IT index added 1.41% to 38,360.25, extending its gains to 2.18% over the past two sessions.
Coforge (up 2.9%), Persistent Systems (up 2.02%), LTIMindtree (up 1.81%), Mphasis (up 1.7%), Tata Consultancy Services (up 1.61%), Oracle Financial Services Software (up 1.5%), Tech Mahindra (up 1.37%), Infosys (up 1.25%), Wipro (up 0.89%) and HCL Technologies (up 0.88%) advanced.
Stocks in Spotlight:
Pine Labs shed 0.24%. The company has reported a net profit of Rs 6 crore in Q2 FY26 as against a net loss of Rs 32 crore posted in Q2 FY25. Revenue from operations grew 18% YoY to Rs 650 crore, on the back of robust growth of issuing, affordability and online payments businesses, which continue to outpace growth in the in-store payments business, in line with the company’s growth strategies.
Biocon declined 5.49%. The company said that its board will meet on Saturday, 06 December 2025, to consider a proposal for raising of funds by way of issuance of commercial paper through private placement.
Petronet LNG climbed 4.48% after the company announced a long-term agreement with ONGC for developing and operating ethane import and handling infrastructure at Dahej.
Mukka Proteins added 1.55% after the company announced that its joint venture (JV) with Hardik Gowda and MS Jathin Infra secured a Rs 474.89 crore contract from Bengaluru Solid Waste Management (BSWML).
Josts Engineering Company rallied 4.72% after the company announced that it has bagged an order worth Rs 5.62 crore from the North Bihar Power Distribution Company.
Pace Digitek shed 0.47%. The company said that its material subsidiary, Lineage Power, has secured an order worth Rs 99.71 crore from Advait Greenergy for the supply of lithium iron phosphate (LFP) battery energy storage systems (BESS) and related equipment.
Rail Vikas Nigam (RVNL) rose 0.26%. The company announced that it has received a letter of acceptance (LoA) worth Rs 145.35 crore from Southern Railway for a traction power project. The scope includes design, supply, erection, testing, and commissioning of Scott-connected traction substations, power quality equipment, switching posts, a 2x25 kV feeding system, and SCADA and automatic fault locator systems in the Jolarpettai–Salem section of the Salem Division.
Lupin rose 0.25%. The company announced that it has entered into an exclusive licensing agreement with U.S.-based biosimilar specialist Valorum Biologics for its biosimilar Armlupeg (pegfilgrastim-unne).
Under the terms of the agreement, Valorum will handle the commercialization and distribution of Armlupeg in the United States, while Lupin will be responsible for manufacturing and supplying the product. Lupin will receive an upfront license fee along with royalty payments on net sales.
Global Market:
European shares advanced while most Asian markets ended higher after Wall Street gained on the latest jobs data that raised hopes the Federal Reserve could cut interest rates next week.
Payroll processor ADP reported that private companies cut 32,000 workers in November, compared with 47,000 additions in October, and well below the 40,000 increase that was widely reported.
Markets are reportedly pricing in an 89% chance of a cut when the Federal Reserve meets on Dec. 9-10, significantly higher than rate-cut bets just a couple of weeks ago.
Overnight, the Dow Jones Industrial Average gained 408.44 points, or 0.86%, to finish at 47,882.90. The S&P 500 traded up 0.30% to end the day at 6,849.72, while the Nasdaq Composite added 0.17% to settle at 23,454.09.
Stocks with exposure to the artificial intelligence trade were the biggest drag on U.S. key benchmarks Wednesday stateside, after a media report stated that Microsoft was cutting software sales quotas tied to artificial intelligence.
Microsoft reportedly refuted the claims in the report, which led the stock to recover slightly in after-hours trading.
Oil & Natural Gas Corporation (ONGC) and Petronet LNG (PLL) have entered into a 15-Years Ethane Unloading, Storage and Handling (USH) Services Binding Term Sheet (commencing between October – December 2028 and ending on the fifteenth (15th) anniversary of the commencement date).
PLL is developing ethane unloading, storage and handling (USH) facilities with ethane storage tank capacity of approx. 1,70,000 Cubic Meters at Dahej, Gujarat. PLL is also constructing a unique third jetty at Dahej which will be capable of handling Ethane and Propane in addition to LNG.
As per the term sheet, ONGC shall reserve capacity of approximately 600 KTPA at PLL's Ethane storage and handling facilities at Dahej, Gujarat. PLL shall receive, store and handle Ethane sourced and imported by ONGC/its subsidiary or affiliate(s) at Dahej, Gujarat and re deliver Ethane to ONGC at the Delivery Point. The term sheet shall form basis for definitive agreements between the parties.
As per the commitments under the binding term sheet, PLL is expected to earn a gross revenue of about Rs 5,000 crore over the total contract duration of 15 years. The transaction under the said term sheet shall commence from FY 2028-2029. It represents a significant milestone in PLL's strategic vision to develop and offer ethane import infrastructure to third parties, thereby expanding its business portfolio beyond LNG and strengthening its position in India's petrochemical and energy value chain. PLL's under-construction unique third jetty will facilitate unloading, storage and handling ethane, propane and LNG at Dahej and will be f irst-of-its-kind in India which shall be made available for third-party imports. This step of PLL underscores its commitment for enabling growth of downstream industries such as Petrochemical sector through world-class import infrastructure for ethane and propane in addition to its existing LNG regasification infrastructure.
As part of its long-term strategy to ensure a reliable and consistent supply of ethane to ONGC Petro Additions Limited (OPaL), ONGC plans to procure and import ethane—via Very Large Ethane Carriers (VLECs) of approximately 100,000 CBM capacity—on long-term, short-term and spot basis. This agreement provides ONGC with assured capacity booking for the import of ethane to meet the feedstock requirements of OPaL. ONGC's subsidiary, ONGC Petro Additions Limited (OPaL), operates one of India's largest petrochemical complexes located at Dahej, Gujarat, which includes a world-scale ethylene cracker unit using ethane as the primary feedstock.
Petronet LNG Ltd lost 2.13% today to trade at Rs 273.05. The BSE Oil & Gas index is down 1.24% to quote at 28664.88. The index is up 5.06 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd decreased 1.65% and Indraprastha Gas Ltd lost 0.6% on the day. The BSE Oil & Gas index went up 9.4 % over last one year compared to the 8.35% surge in benchmark SENSEX.
Petronet LNG Ltd has lost 2.43% over last one month compared to 5.06% gain in BSE Oil & Gas index and 1.76% rise in the SENSEX. On the BSE, 20733 shares were traded in the counter so far compared with average daily volumes of 6.15 lakh shares in the past one month. The stock hit a record high of Rs 349.2 on 30 Dec 2024. The stock hit a 52-week low of Rs 266.45 on 26 Sep 2025.