Market News Today

DI pipe prices remain firm in India, supported by strong demand from infrastructure and water projects, while supply constraints persist. MS ERW pipe prices are stable with a slight upward bias, despite elevated inventory levels. Demand recovery is gradual across regions, and improved buyer activity is expected to support market sentiment in the near term.

An Indian consortium (OIL, IOCL) with 25% interest made a fifth gas and oil discovery in Libya's 6,630 sq km Ghadames Basin Block 95/96. This follows four prior discoveries from 2012-2014, with appraisal activities planned.

Meghmani Organics' subsidiary secured approval to manufacture Nano DAP, NPK, and Zinc fertilizers. Production starts this Kharif season at its existing Gujarat facility with no extra capital expenditure, strengthening its sustainable agriculture position.

Siemens delivered the first of 1,200 electric freight locomotives to Indian Railways, part of a €3 billion project. These 9,000 hp locomotives, India's most powerful, will boost freight capacity and modernize the network over 35 years.

NMDC and SAIL will auction over 10,000 tonnes of crude coal tar in early May. NMDC Nagarnar will auction 1,500t on May 6, while SAIL Durgapur will auction 8,800t on May 7.

Five heavy portal beams, up to 1,360 tonnes and 34m long, were launched for the Bullet Train project over the Ahmedabad-Vadodara railway line in just 22 days, completing a critical construction phase.

China defied US sanctions on Iranian oil, ordering refineries to ignore them. As Iran's top buyer (90-91%), China uses legal tools to protect energy security, rejecting US "long-arm jurisdiction" in escalating energy geopolitics.

Uttar Pradesh government approved doubling compensation for farmers. Land under high-tension power towers gets 200% of value, while overhead line areas receive 30%. This policy, increasing payouts by 21-33%, aims to boost farmer cooperation and project execution.

India's Q1 2026 M&A market saw a 5% volume surge to 710 deals, totaling US$20 billion, despite falling values. The shift reflects resilient activity, favoring mid-market transactions, outbound expansion, and growth in technology, energy, and consumer sectors.

India's chemical sector aims for $300B by 2028. A blueprint leveraging AI, digital twins, and real-time monitoring is crucial to boost efficiency, sustainability, and asset value, redefining plant operations by 2030.