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Management indicated

(1) FY26/27F oil production guidance: 19.8/21mn tons and gas production guidance: 20/21.5 bcm;

(2) annual capex guidance of INR300-350bn;

(3) target to cut opex by ~INR50bn through various cost optimization initiatives;

(4) renewables capacity target of 10GW by 2030;

(5) under the BP TSP contract for Mumbai High, production to increase by 60% over a 10-year period, with peak production likely in FY28-30;

(6) Mozambique force majeure may be lifted in a couple of days;

(7) gas volumes from Daman upside and DSF-II were guided at 5mmscmd and 4mmscmd respectively, to be commissioned in FY26/27F,

(8) new well gas share may reach 30-35% in the next 3-4 years.

According to official sources who spoke to CNBC-TV18, India is waiting on a response from the US government about the Bilateral Trade Agreement (BTA) that is being discussed between the two countries, claiming that further negotiations are not necessary at this time.

According to government sources, India’s discussions have been the most thorough and compliant with the WTO when compared to other nations. All outstanding concerns in various areas have been carefully negotiated.

GIFT Nifty is higher, trading at a premium of more than 150 pts from Nifty Futures’ Tuesday close, indicating a gap-up start for the Indian market.

As the markets look to extend their gains, Tata Power, RVNL, Torrent Power, CONCOR, PI Industries and more.

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Tuesday’s session on the Indian equity markets was quite erratic, with both sides making significant swings until bulls took back control. The Nifty50 index recovered the majority of its losses from the previous week by making a strong comeback from lower levels and closing close to the day’s high.

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