Market News Today

Mumbai's cable-stayed bridge, part of the ₹650 crore SCLR extension, faces another delay until August due to monsoon and electrical faults. The bridge, spanning the Western Express Highway, aims to ease traffic between Eastern and Western Express Highways.

Tata Chemicals reported increased profits in the fiscal first quarter ending June 30, despite a 2.6% YOY decline in soda ash sales volumes, thanks to cost-cutting measures.

Sipchem reverses to loss on higher feedstock costs, lower selling prices. Cites higher feedstock costs, lower selling prices as reason for swing to net loss in Q2; Saudi Aramco raised prices for ethane, fuel products on Jan. 1.

China Bazaar's Future Trade Opening Alert shows an upward trend for September 2025 contracts. Polypropylene (PP) futures opened higher at 7,139 RMB/MT, up from the previous close of 7,130 RMB/MT. Linear Low-Density Polyethylene (LLDPE) futures also saw a positive opening at 7,341 RMB/MT compared to the previous close of 7,334 RMB/MT. Meanwhile, Polyvinyl Chloride (PVC) futures opened marginally higher at 5,150 RMB/MT, slightly up from 5,149 RMB/MT.

Ethylene feedstock prices showed a mixed trend across major regions. In the USA, FD Gulf Coast prices rose to 25.30 cents/lb. Meanwhile, European markets displayed slight weakness with CIF NWE prices falling by €10 to €835/MT, while FD NWE remained unchanged at €730/MT. In Asia, both CFR Northeast Asia and CFR Southeast Asia held steady at US $825/MT and US $835/MT respectively, reflecting stability in the regional markets.

GAIL Q1 net profit dipped 30% YoY to ₹1,886 crore due to petrochemical losses and lower gas marketing margins. Brokerages maintain mixed views, with Macquarie and Jefferies positive on future prospects.

Delhi govt plans 4 elevated roads in south Delhi to ease traffic woes. These include stretches connecting Chhatarpur, Ignou, INA Market, and IGI Airport.

MG Motor India's EV sales surged 158% in FY2025, capturing 28% of the Indian EV market. EVs now contribute over 70% of MG's revenue.

DENSO invests ₹250 crore in a new Motor Generators plant for EVs in Uttar Pradesh, India, boosting Indo-Japanese industrial ties and sustainable mobility.

EU commits to $750 billion in US LNG purchases over three years, boosting shares of American producers. This equates to $250 billion annually.