Enough global oil, no panic needed: Puri on West Asia crisis

Union Minister Hardeep Singh Puri has assured that India is well-prepared to handle any oil supply disruptions due to the escalating Israel-Iran tensions. He highlighted India's diversified crude sources, strong stock reserves, and ongoing diplomatic efforts led by PM Modi to promote de-escalation in the region.
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The Hindu

37 minutes ago

• The Hindu

Iran-Israel conflict: Congress asks government to show moral courage, slams it for not condemning U.S. bombing

U.S. President Donald Trump's decision to unleash American air power on Iran makes a "mockery" of his own calls for the continuation of talks with Iran, the Congress said on Monday (June 23, 2025) and slammed the Modi government for neither criticising nor condemning the U.S. bombing and Israel's aggression. The opposition party reiterated the absolute essentiality of immediate diplomacy and dialogue with Iran. Congress general secretary in-charge of communications Jairam Ramesh said President Trump's decision to unleash U.S. air power on Iran makes a "mockery" of his own calls for the continuation of talks with Iran. "The Indian National Congress reiterates the absolute essentiality of immediate diplomacy and dialogue with Iran. The Government of India must demonstrate greater moral courage than it has so far," he said. "The Modi Government has unequivocally neither criticised nor condemned the US bombing and Israel's aggression, bombings and targeted assassinations," Mr. Ramesh said on X. "It has also maintained a deafening silence on the genocide being perpetrated on the Palestianians in Gaza," he added. His remarks come after the U.S. bombed three major nuclear sites — Fordow, Natanz and Isfahan — in Iran, bringing itself into the Israel-Iran conflict. Prime Minister Narendra Modi on Sunday (June 22, 2025) conveyed to Iranian President Masoud Pezeshkian India's "deep concern" over Iran's conflict with Israel and called for immediate de-escalation of the situation through "dialogue and diplomacy". The U.S. attack on the Iranian nuclear facilities has triggered fears of a wider regional conflict, with many leading countries and blocs calling for restraint. On Saturday (June 21, 2025), before the US bombing, Congress Parliamentary Party chairperson Sonia Gandhi had strongly criticised India's silence on Israel's devastation in Gaza and Iran as "not just a loss of its voice, but also a surrender of values". In an article published in The Hindu - "It is still not too late for India's voice to be heard", she had accused the Modi government of abandoning India's long-standing and principled commitment to a peaceful two-nation solution envisioning an independent Palestine along with Israel. Gandhi, in the article, had also been critical of US President Trump for following a "destructive path" in West Asia, after having spoken against America's endless wars.

Mint

38 minutes ago

• Mint

Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term

Stocks to buy for the short term: Indian stock market benchmarks, the Sensex and the Nifty 50, crashed over a per cent each in intraday trade on Monday, June 23, as Israel-Iran war escalates further, crude oil prices rise sharply and investors dump riskier equities and rush to safe haven assets. As it is difficult to predict the trajectory of the stock market amid rapidly changing geopolitical scenarios, Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, advises traders to remain vigilant. "A decisive breakout above 25,300 could pave the way for a sustained rally toward 25,500–25,600. Conversely, any faltering near current levels could signal renewed caution. On the downside, immediate support lies at 24,700, with a stronger floor near 24,450. Until confirmation is evident, restraint remains prudent near resistance zones," said Patel. Jigar Patel recommends buying shares of DMart, Eicher Motors and Biocon for the next two to three weeks. Over the past month, Eicher Motors has witnessed a healthy correction of approximately 12 per cent from its recent peak of ₹ 5,906. Notably, the stock has established a firm base over the last 15 trading sessions, consolidating between its 50- and 100-day exponential moving averages — a sign of stabilizing price action. In the latest session, Eicher decisively broke out of a dual descending trendline, supported by a steadily improving Relative Strength Index (RSI), which has consistently held above the 40 mark and now stands at 61.42. "The confluence of favourable technical indicators positions Eicher as an attractive long candidate. Traders may consider initiating positions in the ₹ 5,530–5,480 range, targeting ₹ 5,900, with a stop loss placed below ₹ 5,300," said Patel. Eicher Motors Following a steep decline from its recent high of ₹ 4,557, DMart has entered a consolidation phase, forming a strong base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA). Notably, the stock has triggered a bullish golden crossover, with the 50-DEMA moving above the 200-DEMA — a technically significant development often interpreted as a precursor to upward momentum. Adding weight to the bullish bias, the stock has also broken out of a descending trendline, indicating a potential trend reversal. "Given this confluence of positive technical signals, traders may consider initiating long positions in the ₹ 4,300–4,250 zone, with an upside potential toward ₹ 4,700. A stop loss should be maintained below ₹ 4,100 on a daily closing basis," Patel said. DMart Biocon has recently established a robust base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA), signalling price stability after a period of consolidation. A golden crossover — with the 50-DEMA crossing above the 200-DEMA — further reinforces the emerging bullish sentiment. On June 19, 2025, the stock also formed a bullish harami candlestick pattern, accompanied by a close above the R3 Camarilla monthly pivot, strengthening the technical outlook. This alignment of key indicators suggests a potential upside move. "Traders may consider initiating long positions in the ₹ 353–348 range, with a projected target of ₹ 385. A protective stop loss should be placed below ₹ 332 on a daily closing basis to manage risk effectively," said Patel. Biocon Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.

New Indian Express

41 minutes ago

• New Indian Express

UPA regime stood for scams, Modi-led NDA government for nation building: Minister Kishan

HYDERABAD: Union Coal & Mines Minister G Kishan Reddy on Sunday said that while the 'remote-controlled' UPA regime was known for corruption and scams, the BJP-led NDA government, under the leadership of Prime Minister Narendra Modi, is synonymous with nation building and development. 'During UPA rule, the main headlines in all newspapers used to be on corruption in the government. But in the last 11 years, the Modi-led NDA government has been free of corruption,' he said. The Union minister presided over the Viksit Sankalp Sabha in Secunderabad organised by Malkajgiri MP Eatala Rajender on completion of one year in office. Kishan, who is also the president of the state BJP unit, said: 'In the past, terrorist attacks and bomb blasts used to be the norm. But in the last 11 years, there has been no such terror attack. With surgical and air strikes as well as several other operations, the country, under Modi's leadership, has succeeded in curbing terrorist activities. We responded to the recent Pakistan-sponsored terrorist attack in Pahalgam with Operation Sindoor.' The Union minister also said that the Modi government was moving forward with a development agenda. 'The country is currently witnessing all-round development. Funds are being allocated for rural development, women empowerment, for improving road infrastructure and railway stations,' he said, adding that 32 out of 33 districts in Telangana have now been connected to national highways. He also said that the Union government was distributing PDS rice for 80 crore people in the country. Kishan, meanwhile, slammed the Revanth Reddy-led Congress government for 'failing' to fulfil promises made to the people. 'The Congress is also following in the footsteps of BRS and encouraging corruption,' he alleged. Stating that the BJP is the only party that will be able to protect the interests of Telangana people, he exuded confidence in the saffron party forming the government in the state by winning the next Assembly elections.