GAIL (India)

Aug 21 (Reuters) - India's downstream petroleum and gas regulator said on Friday it has approved the laying of about 1,800 km of LPG pipeline infrastructure at an estimated investment of 70 billion rupees ($731.49 million).

The Petroleum and Natural Gas Regulatory Board said the pipelines will pass through six states: Telangana, Maharashtra, Uttar Pradesh, Uttarakhand, Karnataka and Goa.

• The projects have been authorised for development by India's top natural gas distributor GAIL India GAIL.NS, the regulator said.

• Upon completion, the country's common-carrier liquefied petroleum gas pipeline network will expand more than 23% to about 9,500 km.

• The plan reflects India's efforts to bolster energy-supply resilience as conflict in the Middle East and geopolitical risks raise concerns over fuel trade routes.

• India relies significantly on imported LPG, the regulator said, and the new pipelines are intended to improve the movement of supplies and the country's ability to respond effectively during supply disruptions and emergencies.

• The projects are also expected to reduce the movement of LPG tank trucks, improving road safety, lowering logistics costs and easing traffic congestion.

($1 = 95.6950 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Jonathan Ananda)

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Adds shares in paragraph 2

Aug 18 (Reuters) - India is offering incentives to gas distributors across cities to boost domestic connections of piped cooking gas, the government said on Tuesday, as the U.S.-Iran conflict disrupts fuel shipments and drives up import costs.

Shares of city gas distributors rose after the announcement, with Indraprastha Gas IGAS.NS climbing 3.5%, Mahanagar Gas MGAS.NS gaining 4% and Gujarat Energy GJAA.NS rising 0.5% on Wednesday.

India, the world's second-largest liquefied petroleum gas importer, has been using the cooking gas crisis sparked by the Middle East war to plug gaps in its distribution network and speed up the shift to piped gas in a bid to cut down on LPG imports and spending on subsidies.

• Under the incentive scheme, effective September, city gas distribution companies will get an additional 200 standard cubic metres of cheaper, domestically produced gas for every household they connect to, which starts using and paying for piped natural gas.

• The scheme will incentivise city gas distributors to turn unused pipe connections into active, paying customers, and extend the pipeline network to reach new households, the ministry of petroleum and natural gas said.

• The extra gas, which will lower overall gas-sourcing costs, is also expected to help distributors recoup their investment in new connections in about three years, down from roughly 10 currently, the government said.

• Since the start of the war, suppliers including Indraprastha Gas, Mahanagar Gas, GAIL Gas and Bharat Petroleum Corp BPCL.NS have offered incentives such as reductions in installation charges for piped gas connections.

• India currently has about 17.4 million domestic PNG connections, the government said Tuesday. That compares to about 331.4 million active household LPG customers as of July 1.

• India meets about 60% of its LPG needs through imports. It shipped in about 22 million metric tons of LPG in 2025, mostly from the Middle East, spending nearly $12 billion.

(Reporting by Chris Thomas in Mexico City and Kashish Tandon in Bengaluru; Editing by Diti Pujara and Ronojoy Mazumdar)

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Aug 18 (Reuters) - India is offering incentives to gas distributors across cities to boost domestic connections of piped cooking gas, the government said on Tuesday, as the U.S.-Iran conflict disrupts fuel shipments and drives up import costs.

India, the world's second-largest liquefied petroleum gas importer, has been using the cooking gas crisis sparked by the Middle East war to plug gaps in its distribution network and speed up the shift to piped gas in a bid to cut down on LPG imports and spending on subsidies.

• Under the incentive scheme, effective September, city gas distribution companies will get an additional 200 standard cubic metres of cheaper, domestically produced gas for every household they connect to, which starts using and paying for piped natural gas (PNG).

• The scheme will incentivise city gas distributors to turn unused pipe connections into active, paying customers, and extend the pipeline network to reach new households, the ministry of petroleum and natural gas said.

• The extra gas, which will lower overall gas-sourcing costs, is also expected to help distributors recoup their investment in new connections in about three years, down from roughly 10 currently, the government said.

• Since the start of the war, suppliers including Indraprastha Gas IGAS.NS, Mahanagar Gas MGAS.NS, GAIL Gas and Bharat Petroleum Corp BPCL.NS have offered incentives such as reductions in installation charges for piped gas connections.

• India currently has about 17.4 million domestic PNG connections, the government said Tuesday. That compares to about 331.4 million active household LPG customers as of July 1.

• India meets about 60% of its LPG needs through imports. It shipped in about 22 million metric tons of LPG in 2025, mostly from the Middle East, spending nearly $12 billion.

(Reporting by Chris Thomas in Mexico City; Editing by Diti Pujara)

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** Shares of state-owned natural gas distributor GAIL (India) GAIL.NS fall 4.7% to 173 rupees, set for biggest intraday pct drop since March

** Co on Friday reported 148% y/y increase in first-qtr net profit; rev from ops up 12% y/y

** Brokerages say Q1 profit beat was primarily due to increased arbitrage profit in gas trading, as co benefited from lower Henry Hub sourcing prices while making Brent price-linked sales

** Jefferies downgrades GAIL to "hold" from "buy"; raises TP by 5 rupees to 185 rupees, still expecting strength in gas transmission business and profitability in LPG

** Brokerage says factors leading to profit beat have reversed, as both HH and Brent prices have now normalized

** PhillipCapital anticipates partial reversal in profitability for GAIL in rest of the year; downgrades to "neutral" from "buy" (TP 185 rupees)

** GAIL on avg rated "buy" by 31 analysts; median PT is 187.50 rupees - LSEG-compiled data

** Stock roughly flat YTD

(Reporting by Abhirami G in Bengaluru)

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GAIL (India) held its Q1 FY27 earnings conference call on July 31, 2026, with management flagging several material revisions to the full-year outlook. FY27 natural gas transmission volume guidance was cut to around 123 MMSCMD from 134-135 MMSCMD guided in February, citing the continuing geopolitical situation. Gas marketing PBT guidance was raised to around Rs 4,500 crore, though management described the Q1 index-arbitrage benefit as largely short-term and expected margins to normalize. Capital outlay guidance was increased to around Rs 11,500 crore from Rs 9,000-10,000 crore, and the Usar PDH-PP plant's commissioning slipped to June 2027 or potentially December 2027 from calendar 2026. Q1 standalone PAT was Rs 4,292 crore, up 128% year-on-year, driven by gas marketing spreads and aided by LNG supply disruptions, including PLL force majeure and seven affected cargoes. Consolidated PAT excluding minorities was Rs 4,665 crore, up 214% year-on-year. Management cautioned that marketing, LHC, and petrochemical profitability would decline from Q1 levels as prices and spreads normalize.

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July 30 (Reuters) - GAIL (India) Ltd GAIL.NS:

• MAGELLANIC CLOUD LTD - UNIT GETS ORDER WORTH 127.6 MILLION RUPEES FROM GAIL

Further company coverage: GAIL.NS

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July 29 (Reuters) - Rashtriya Chemicals and Fertilizers Ltd RSTC.NS:

• RASHTRIYA CHEMICALS AND FERTILIZERS - CO AND GAIL ENTER MOU

• RASHTRIYA CHEMICALS AND FERTILIZERS - TO ESTABLISH GAS-BASED FERTILIZER PROJECT IN MAHARASHTRA THROUGH SPV

• RASHTRIYA CHEMICALS AND FERTILIZERS - PROPOSED UREA FACILITY PLANNED WITH CAPACITY OF 1.27 MMTPA

Source text: ID:nBSE5zn2bB

Further company coverage: RSTC.NS

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July 17 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL INKS PACT WITH KABIL TO STRENGTHEN COLLABORATION IN CRITICAL MINERALS - STATEMENT

Source text: [ID:]

Further company coverage: GAIL.NS

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July 9 (Reuters) - Container Corporation of India Ltd CCRI.NS:

• CONCOR AND GAIL SIGN LONG-TERM AGREEMENT FOR LNG DISPENSING STATION IN AHMEDABAD

• GAIL TO HAVE EXCLUSIVE OPERATIONAL CONTROL UNDER 15-YEAR AGREEMENT

• CONCOR TO DEPLOY 15 LNG-POWERED VEHICLES IN FIRST CONTRACT YEAR

Source text: ID:nBSE3JXgKT

Further company coverage: CCRI.NS

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May 22 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - CAPITAL ALLOCATION FOR FY2026-27 TOTAL 116 BILLION RUPEES

Source text: ID:nnAZN4SXX5M

Further company coverage: GAIL.NS

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GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) Q4 NET PAT 12.62 BILLION RUPEES

• GAIL Q4 REVENUE FROM OPERATIONS 347.97 BILLION RUPEES

Source text: [ID:]

Further company coverage: GAIL.NS

April 27 (Reuters) - Rudra Gas Enterprise Ltd RUDA.BO:

• RUDRA GAS ENTERPRISE LTD - ENTERING INTO AGREEMENT WITH GAIL (INDIA) AND GUJARAT GAS

• RUDRA GAS ENTERPRISE - GETS CONTRACT FOR LONG TERM SUPPLY OF CBG TO RETAIL OUTLETS OF GUJARAT GAS

• RUDRA GAS ENTERPRISE - MONTHLY BILLING OF 12.5 MILLION RUPEES

Source text: ID:nnAZN4SSWUD

Further company coverage: RUDA.BO

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April 15 (Reuters) - GAIL (India) Ltd GAIL.NS:

• TO INVEST 38 BILLION RUPEES IN 700 MW SOLAR PROJECTS IN UP AND MAHARASHTRA

• TO SET UP 100 MW SOLAR PROJECT WITH 22 MWH STORAGE IN MAHARASHTRA

• TO DEVELOP 600 MW SOLAR PROJECT WITH 550 MWH STORAGE IN UTTAR PRADESH

Source text: ID:nBSERdXBd

Further company coverage: GAIL.NS

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April 13 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - TO SET UP GREENFIELD 600 MW SOLAR PROJECT IN UTTAR PRADESH

• GAIL - INVESTMENT REQUIRED FOR PROJECT IS 32.95 BILLION RUPEES

Further company coverage: GAIL.NS

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Adds comments, background, changes media tag

By Nidhi Verma

NEW DELHI, April 9 (Reuters) - India's largest gas distributor GAIL (India) GAIL.NS plans to borrow 50-60 billion rupees in fiscal 2027 to fund expansion, and has bought three spot LNG cargoes to offset supply shortages caused by the Iran war , a company executive said on Thursday.

The amount it plans to borrow would be the equivalent of $539 million-$647 million.

Finance director Rakesh Jain, at an industry event, also said GAIL's Dabhol LNG import terminal in Ratnagiri, Maharashtra state, is handling 2.25 million tonnes per year, below its 5 million tpy capacity, due to tighter global supplies.

Iran's blocking of the Strait of Hormuz, which handles 20% of global LNG flows, and damage to Qatar's liquefaction trains - sidelining 12.8 million tons per year of supply for three to five years - have slashed availability and pushed up spot prices. LNG-AS

Last year, India received nearly half of its LNG imports from Qatar, according to data from analytics firm Kpler.

Indian refiner Hindustan Petroleum Corp HPCL.NS has also been unable to secure an LNG cargo to operate its 5 million tpy Chhara LNG terminal on the west coast in Gujarat state, a company source told reporters at the event.

The source said HPCL did not receive cargoes from its supplier, ADNOC Trading, in March and April, as ADNOC Trading was due to deliver volumes sourced from Qatar, and that the Chhara terminal had yet to reach full operational capacity due to operational issues.

ADNOC Trading did not immediately respond to a request for comment.

($1 = 92.7100 Indian rupees)

(Reporting by Nidhi Verma in New Delhi, Writing by Aleef Jahan in Bengaluru and Emily Chow in Singapore; Editing by Sonia Cheema and Bernadette Baum)

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April 7 (Reuters) - GAIL (India) Ltd GAIL.NS:

• ENTERS LONG-TERM CHARTER PARTY AGREEMENT WITH ALPHA GAS FOR LNG CARRIER

Source text: ID:nBSE2YWl1G

Further company coverage: GAIL.NS

(([email protected];))

Updates with comment by Indian govt spokesperson

By Krishna N. Das, Nidhi Verma and Saurabh Sharma

NEW DELHI, March 27 (Reuters) - As India's diplomats negotiated an accord that would ease punitive U.S. tariffs on the South Asian country's exports in January, New Delhi slashed its purchases of Russian crude oil in a move that was widely seen as a painful concession to President Donald Trump.

Just two months later, however, Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume direct sales of liquefied natural gas for the first time since the start of the Ukraine war, according to two people familiar with the matter. If India decides to pursue the deal, which risks violating Western sanctions, negotiations could be concluded in weeks, one of the people said.

Details of the talks, which come amid skyrocketing energy prices triggered by the U.S.-Israeli attack on Iran, have not been previously reported. The "verbal agreement" to negotiate an LNG deal was reached during a March 19 meeting between Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum and Gas Minister Hardeep Singh Puri in Delhi, the people said.

The two officials also agreed to further increase crude oil sales to India, which could double from January's levels to at least 40% of India's total imports in about a month, three people familiar with their deliberations said.

India became a major buyer of Russian crude that was heavily discounted after the invasion of Ukraine, which became a point of contention with the Trump administration. The world's third-biggest oil importer and consumer purchased nearly $44 billion of crude from Moscow last year, playing a vital role in keeping the Kremlin's wartime economy alive.

Delhi has separately told its energy importers to get ready to resume purchases of Russian LNG, one of the people said. India has already approached Washington about a possible sanctions waiver, according to the source and a second person familiar with the request.

India’s external affairs and petroleum ministries did not respond to questions about the potential LNG deal before publication. When asked about this Reuters article at a briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said that the government's energy policy was based on its need to meet the requirements of 1.4 billion people, market dynamics and global conditions.

Indian authorities have also said they are purchasing cargos of Russian liquefied petroleum gas, which is largely used for cooking and isn't under sanctions.

The Russian energy ministry declined to comment about any discussions with India, while the U.S. Treasury Department did not address questions about sanctions relief.

The White House and Ukraine's embassy in Delhi did not respond to requests for comment.

"India chose the course that best served its national interests, anchored in a long-standing and trusted partnership with Russia," said Ajai Malhotra, a former Indian ambassador to Moscow.

Delhi should now "demand exemptions or accommodations as a normal part of negotiation between strategic partners," he added, referring to Washington.

DOUBLE WHAMMY

While India has been courted by the United States for decades as a strategic counterweight to neighbouring China, the world's fifth-largest economy has now been left reeling twice in less than a year by decisions initiated largely in Washington.

After years of buying crude oil from Moscow at discounted rates, Delhi sharply curtailed purchases after Trump in August imposed tariffs of as high as 50% on Indian goods, or among the most punitive levied on any country. The U.S. Supreme Court has since ruled that Trump acted unlawfully in enacting such tariffs.

India's calculus quickly changed after the U.S. and Israel attacked Iran on February 28. Tehran's retaliation included targeting ships in the Strait of Hormuz, effectively shutting down the narrow strip through which about half of India's crude oil and LNG supplies pass.

Long lines have since been seen outside some Indian gas stations, while some restaurants have run out of cooking gas.

Demand for Russian energy exports, which when transported to Asian customers avoid the Gulf, has sharply increased across the region's economies.

India's state-owned refiners began ordering additional purchases of Russian crude in the hours before the U.S. on March 5 announced a temporary waiver that would allow Delhi to buy some sanctioned cargoes. As oil prices continued to climb, Washington further loosened restrictions.

Some Indian policymakers have lamented that Delhi cut Russian crude imports as a concession to the U.S., according to a government document seen by Reuters.

“India had reduced purchases of discounted Russian crude, which would have buffered the situation to an extent,” said the note, a briefing on the Middle East crisis that was prepared on March 20 for the cabinet secretariat.

It cautioned that a prolonged disruption of oil flows from the Middle East would prompt a cascade of economic challenges, "leading to higher inflation, a weaker currency and rising foreign debt.”

Export growth could take a hit of between 2% and 4%, it warned, adding that wholesale inflation could rise by between 0.3% and 0.7%.

WARMING TIES

Russia, which has maintained friendly ties with India since the Cold War, is pressing its advantage.

Any new LNG accord would likely contain less favourable terms for India as compared to the 20-year supply deal India's state-owned GAIL agreed with Russia's Gazprom in 2012, according to one of the sources. "It is now a seller's market," the person said.

Executives at Russian state power grid company Rosseti, who were in Delhi this month for an industry summit, also proposed working with their Indian counterparts on transmission facilities, largely in mountainous and remote areas of the country, one of the sources said.

If an agreement is reached, it would mark Moscow's first foray into India's power transmission sector.

Russia is also keen to expand air connectivity with India: Timofei Titarenko, an executive with St. Petersburg's Pulkovo Airport, told Reuters last week that he has been visiting Indian airports and exploring the possibility of more direct flights.

Chief Kremlin diplomat Sergei Lavrov told a conference on Indo-Russian relations this week that 96% of trade between the two countries is now conducted in rupees and roubles.

"The time-tested Russian-Indian friendship serves as an example of how interstate relations should and can be built – based on equality, mutual trust and respect, and consideration of each other's interests," he said.

Rupee-rouble transactions of up to $1 billion can now be processed in as little as a day, or more than twice as fast as just a few years ago, a top executive at the Indian branch of Russian lender Sberbank said at a Mumbai conference in March.

(Additional reporting by Jaspreet Kalra in Mumbai, Shivangi Acharya in New Delhi, Vladimir Soldatkin in Moscow and Jarrett Renshaw in Washington; Editing by Katerina Ang)

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March 25 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - MUMBAI-NAGPUR-JHARSUGUDA PIPELINE (MNJPL) COMPLETION DATE REVISED TO 30TH JUNE 2026

Source text: ID:nBSE4g8gxh

Further company coverage: GAIL.NS

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March 24 (Reuters) - Suzlon Energy Ltd SUZL.NS:

• SUZLON ENERGY LTD - WINS ITS SIXTH REPEAT ORDER OF 100 MW FROM GAIL

Source text: ID:nNSExsLbM

Further company coverage: SUZL.NS

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** Shares of GAIL (India)GAIL.NS fall 4.76% to 136.11 rupees

** Antique Stockbroking flags volume-led disruption to earnings outlook and lower gas transmission volumes as key near-term risk for profitability visibility

** Says disruptions tied to supply-side constraints could weigh on pipeline utilisation and earnings trajectory

** However, broker notes current valuations remain attractive relative to historical averages and peers, offering medium-term comfort

** Adds structural gas demand outlook remains intact despite near-term volatility

** Stock rated "buy" on average by 33 analysts, median PT at 190 rupees -- LSEG data

** YTD, stock down more than 17%

(Reporting by Surbhi Misra in Bengaluru)

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March 19 (Reuters) - TruAlt Bioenergy Ltd TRUA.NS:

• GAIL INVESTS 130 MILLION RUPEES IN TRUALT BIOENERGY'S SUBSIDIARY LEAFINITI

Source text: ID:nBSE2NLHK4

Further company coverage: TRUA.NS

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SINGAPORE, March 18 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, said two industry sources on Wednesday.

GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis on April 22 at Sabine Pass, Louisiana, and on May 11 at Cove Point, Maryland.

In exchange, GAIL is seeking two cargoes for delivery on a delivered ex-ship (DES) basis to the Dahej terminal on April 1-7 and 8-15.

The tender closes on March 18.

(Reporting by Emily Chow; Editing by Tom Hogue)

(([email protected]; Reuters Messaging: [email protected]))

By Nidhi Verma

NEW DELHI, March 11 (Reuters) - Indian gas firm GAIL GAIL.NS has bought an Omani liquefied natural gas cargo as the South Asian nation attempts to meet its natural gas demand, three trade sources said.

GAIL has bought the prompt cargo for delivery next week from a European trader through negotiations at a fixed price of $17-$20 per million British thermal units, two of the three sources said.

The cargo loaded on the vessel Orion Hugo, chartered by Shell, is scheduled to arrive in India around March 15, Kpler data shows.

No immediate response was available from GAIL.

India meets half ​of its 195 ⁠million standard cubic metres per day (mmscmd) of natural gas consumption through imports.

The country was getting about 60 mmscmd gas from the Middle East before the closure of the Strait of Hormuz and force majeure by its biggest supplier Qatar.

India is taking measures to rationalise gas supplies, diverting the fuel from non-priority sectors to key users after the disruption of shipments.

(Reporting by Nidhi Verma and by Emily Chow in Singapore; Editing by Louise Heavens)

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March 10 - By Ira Dugal, Editor Financial News, with global Reuters staff

The Iran war’s effect on business is growing rather dramatically. From gas curbs to export delays, Indian companies are already feeling the strain. And so are financial markets, forcing a step-up in intervention from the central bank.

From fertiliser producers, to makers of ceramics to crafters of jewellery, a broad swathe of Indian companies has found itself in the cross-hairs of the war. That's our focus this week. Are there as-yet unanticipated ways in which the Middle East crisis could hit Indian firms? Write to me at [email protected].

And foreign outflows from Indian IT stocks hit a seven-month high in February. Scroll down for more on that.

THIS WEEK IN ASIA

Iran defies Trump, elevates Khamenei's son Mojtaba as successor

China says US talks vital as Trump targets Beijing's key partners

Airlines begin to hike fares due to higher fuel prices, shares stabilise

US pressing Sri Lanka not to repatriate Iranian crew and survivors from sunken ship, memo says

Vietnam eyes new 5G deals with Chinese tech firms, sources say, despite US warnings

SHORTAGES, SUPPLY DISRUPTIONS, PRICE HIKES

The U.S.-Israel war with Iran, now into its second week, is casting its shadow on businesses across the world, including India's.

The first point of impact has been higher oil prices - which rose above $110 per barrel but slid on Tuesday as U.S. President Donald Trump's comments raised hopes of an end to the war. But disruption to trade through the Strait of Hormuz and stoppage of gas supplies are also having a more immediate impact on Indian businesses.

Over the past week, GAIL GAIL.NS and IOC IOC.NS restricted gas supplies to industrial customers after Qatar halted production of liquefied natural gas and shipments were disrupted.

India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.

The gas shortages will likely hit the fertiliser sector quickly, where some manufacturers such as Gujarat Narmada Valley Fertilizers GNFC.NS have already announced planned production cuts.

Similar cuts are being seen across the region, which could potentially curb supplies just as farmers gear up for their major cereal planting season, Reuters' Naveen Thukral reported.

India imports about a third of its fertiliser needs. The government, however, was confident supplies will be adequate and added it is taking steps to diversify imports beyond the crisis-hit Middle East.

The ceramic and tiles industry has been another early casualty of fuel-supply shortages, with a number of firms planning on paring production. And restaurants have taken to social media to complain about a shortage of industrial-sized gas cylinders.

Alongside, businesses that export to the Middle East are starting to warn about delays in shipments.

India's gems and jewellery exports, as well as imports of rough diamonds from the United Arab Emirates, are being impacted because of widespread flight cancellations and airspace closures, Reuters' Rajendra Jadhav reported.

Jindal Stainless JIST.NS, India's biggest stainless steel producer, has warned of shipment delays.

India is not alone in feeling the impact, with many global businesses under pressure. Read here for an assessment of the global impact.

Prices are starting to be impacted as well, with India raising cooking gas prices, even though the government has ruled out a hike in retail costs of petrol and diesel for now.

The one silver lining is that interest rates may not rise immediately as production cuts due to shortages of fuel-based raw material and disruptions to exports may mean a quicker hit to India's growth than to inflation.

Read that analysis here.

In a scenario where oil prices average $120 per barrel in financial year 2026-27, inflation may rise to 4.8% while growth may slip to 6.2% from a currently estimated 7%, said Soumya Kanti Ghosh, chief economist at State Bank of India, the country's largest bank.

STEPPING UP INTERVENTION

With no quick resolution in sight and financial markets jittery, India's central bank has stepped up intervention.

It sold about $12 billion from its foreign exchange reserves to steady the rupee, which fell to a record low below 92 against the dollar this week.

It also bought bonds via the secondary markets and announced purchases of another 1 trillion rupees over the next week, to keep liquidity comfortable and interest rates in check.

The government too has activated contingency measures at ports to ensure additional storage facilities for exports bound for the Middle East that may be stuck or returning midway due to a lack of safe transit.

"Risk-off sentiments will keep the Indian rupee under pressure, while the RBI intervenes judiciously, balancing pressures on FX reserves and the need to maintain banking system liquidity," Kotak Institutional Equities said in a note.

MARKET MATTERS

Indian IT stocks fell the most in February since the global financial crisis as foreign selling hit its highest in seven months on concerns about the impact artificial intelligence models will have on the software business, data released on Friday showed.

Foreign portfolio investors sold IT stocks worth 169.49 billion rupees ($1.85 billion) last month, triggering a 19.5% drop in the IT index .NIFTYIT, its worst monthly performance since September 2008, when the global financial crisis upended equity markets.

Read here for more.

THIS WEEK'S MUST-READ

The southern Indian state of Karnataka, home to the tech hub of Bengaluru, banned on Friday the use of social media by those under the age of 16.

Read here for more on the decision.

Karnataka became the first Indian state to implement a ban even though a wider debate in the country kicked off after an annual economic document from the government's chief economic adviser earlier this year said that India should draft policies on age-based access limits to tackle "digital addiction".

(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)

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March 9 (Reuters) - Railtel Corporation of India Ltd RAIT.NS:

• NO DEFINITIVE TERMS HAVE BEEN FINALIZED IN MOU WITH GAIL

Source text: ID:nnAZN4SKA6Z

Further company coverage: RAIT.NS

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March 5 (Reuters) - GAIL (India) Ltd GAIL.NS:

• PETRONET LNG ISSUES FORCE MAJEURE NOTICE UNDER GAS SALE AND PURCHASE AGREEMENT ON MARCH 3, 2026

• ALLOCATION OF LNG QUANTITIES TO GAIL UNDER CONTRACT REDUCED TO ZERO

• LNG SUPPLIES TO GAIL FROM OTHER SOURCES/SUPPLIERS ARE CURRENTLY UNAFFECTED.

• POTENTIAL IMPACT OF ONGOING FORCE MAJEURE SITUATION CANNOT BE QUANTIFIED

• FORCE MAJEURE DUE TO STRAIT OF HORMUZ RESTRICTIONS AND POSSIBLE RAS LAFFAN FACILITY SHUTDOWN

• QATARENERGY, PLL'S UPSTREAM LNG SUPPLIER ISSUED COMMUNICATION INDICATING POTENTIAL FORCE MAJEURE EVENT

Source text: ID:nBSE46sltW

Further company coverage: GAIL.NS

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Recasts, adds details from sources

By Nidhi Verma

NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the domestic supply of natural gas, including to the important fertiliser sector, under a force majeure clause due to an escalating conflict in the Middle East, gas importers and sources said on Wednesday.

The U.S and Israel's air war on Iran has disrupted fuel shipments in the region, affecting India's key supplier of liquefied natural gas, Qatar.

Sources familiar with the matter said lower gas supplies had already marginally hit production of some fertiliser companies including the Indian Farmers Fertiliser Cooperative Ltd and Kribhco Fertilizers Ltd.

The two companies did not respond to Reuters' request for comment outside normal working hours.

Gujarat Gas Ltd, which supplies gas for domestic and industrial clients, said in a stock exchange filing that it had declared a force majeure to restrict gas supplies to industries from Thursday. Its parent company, GSPC, gets most of the gas from Qatar and Abu Dhabi National Oil Co for sale to local customers.

India's top gas importer Petronet LNG Ltd PLNG.NS issued a force majeure notice to its supplier, QatarEnergy, and to local buyers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS, after its three LNG tankers were unable to reach the Ras Laffan loading port, it said in an exchange filing.

GAIL and IOC have already reduced gas supplies to industries, Reuters reported on Tuesday.

QatarEnergy has also issued a notice to Petronet "indicating a potential event of force majeure" due to the hostilities in the region, the Indian company said.

So far the companies have not announced any cuts in gas supplies for households or the automobile sector.

India imported 27 million tonnes of LNG in 2024/25, about half of its overall gas consumption, according to the government data. The bulk of the LNG is imported from Qatar.

As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally, as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.

(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee and Andrei Khalip)

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Updates with more information from paragraph 5. Changes media keyword from IRAN-CRISIS/INDIA-LNG

By Nidhi Verma

NEW DELHI, March 3 (Reuters) - Indian companies on Tuesday reduced natural gas supplies to industries in anticipation of tighter supply from the Middle East after top producer Qatar halted production, four industry sources with knowledge of the matter said.

Qatar halted its liquefied natural gas production on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S. strikes against it. The attacks have also halted oil and gas shipments through the Strait of Hormuz, driving up global energy prices and shipping costs.

India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.

Top LNG importer Petronet LNG Ltd PLNG.NS has informed GAIL (India) GAIL.NS, the top gas marketing company, and other companies about lower supplies, two of the sources said.

The South Asian nation is the top LNG client for Abu Dhabi National Oil Company and the second-largest buyer of Qatari LNG.

GAIL and Indian Oil Corp IOC.NS informed customers of the gas supply cut late on Monday, one of the sources said.

The cuts range from 10% to 30%, two of the sources said.

The cuts have been set at minimum lifting quantities that would shield the suppliers from any penalties from the customers based on contractual terms, the sources said.

GAIL, Petronet and IOC were not immediately available for comment. The sources declined to be named because they were not authorised to speak to the media.

To make up for the LNG shortfall, companies including IOC, GAIL, Petronet LNG are planning to issue spot tenders, two of the sources said, although spot prices, freight, and insurance costs have surged.

(Reporting by Nidhi Verma; Additional reporting by Emily Chow in Singapore; Editing by Florence Tan and Kate Mayberry)

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Feb 27 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - SETTING-UP OF A GREENFIELD 178.2 MW WIND PROJECT IN MAHARASHTRA

• GAIL - INVESTMENT REQUIRED 17.36 BILLION RUPEES

Source text: ID:nBSE5HDXQW

Further company coverage: GAIL.NS

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