Non-bank lender ​Piramal Finance said ‌on Friday it ​would ⁠raise up to ₹15,000 crore ‌through an issue of non-convertible ‌debentures.

* Piramal ‌Finance ⁠will issue ⁠the debentures from April 1, 2026 ​to March ‌31, 2027 in one or more tranches.

* ‌The company ​proposes to list the debentures ⁠on either the BSE or ‌the National Stock Exchange of India, or both bourses.

* Piramal ‌Finance did not ​disclose further details, including the ⁠tenure and interest ⁠rate.

Published on March 27, 2026

With rising global crude prices, the Finance Ministry has reimposed the windfall gain tax on jet fuel (ATF or Aviation Turbine Fuel) exports with effective levy of ₹29.50 a litre. Similarly for export-bound diesel, it would be ₹21.50 a litre.

Finance Minister Nirmala Sitharaman said that the levy on ATF export had been raised to ensure that the fuel is prioritized for use in the domestic sector. “ATF is very important. It is necessary for India’s aircraft and our companies to get ATF. For that reason, there are many refineries in India that buy goods from abroad, refine them here and export them abroad and give them to us. But we have now increased the rate on that export, increased the excise duty, so that instead of exporting, they will sell it in India itself, which will ensure plenty of availability in India and people won’t feel a shortage,” she said.

Explaining the change, Manoj Mishra, Partner at Grant Thornton Bharat said that to ensure adequate fuel availability for domestic consumers and shield them from the impact of ongoing global disruptions, the government has levied an export duty of  ₹29.5 per litre on aviation turbine fuel (ATF), alongside a reduction in excise duty on petrol and diesel for domestic consumption. “While the notification prescribes a special additional excise duty of ₹50 per litre on ATF, specified exemptions bring down the effective levy to ₹29.5 per litre, reflecting a calibrated approach to balance domestic supply priorities with external market dynamics,” he said.

These changes have come at a time when crude prices surged to nearly $119 per barrel after US and Israeli strikes on Iran before easing to around $100 levels. Also, product prices are also on rise. With Indian refineries have high capacity and exporting petroleum products, government has reworked the levy.

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Published on March 27, 2026

Asian refiners are beginning to switch to ​pricing U.S. crude oil purchases against
global benchmark ICE ‌Brent instead of Dubai after the ​Middle
East marker spiked to record levels ⁠this month, three refining
and trade sources said on Friday.

The move could reduce liquidity for the West Asia
benchmark in the derivatives market as traders shift hedges to
ICE Brent, one of ‌them said.

Asian buyers have just begun ‌booking ⁠U.S. crude cargoes for
delivery in July ⁠this week, he said, adding that Japanese
refiner Taiyo Oil bought 2 million barrels of U.S. light crude
via a ​tender at about $19 ‌a barrel above ICE Brent for July
delivery. The Japanese refiner, which typically buys WTI crude
pegged against Dubai prices, declined to comment.

Other ‌Japanese refiners have also purchased U.S. crude
priced ​against ICE Brent instead of Dubai, the same source said.
Details of those ⁠deals were not immediately available as they
were done through private negotiations, he said.

Dubai spiked ‌to an all-time high of $169.75 last week
surpassing Brent, making Middle East supply the most
expensive oil in the world, as the amount of crude available for
trading fell after S&P Global Platts excluded three of the five
crude grades ‌in anticipation of a prolonged disruption to
shipping via ​the Strait of Hormuz.

Robust demand from French major TotalEnergies has
supported Dubai prices.

Following the ⁠market volatility, some Asian refiners had
requested that the ⁠world’s top exporter Saudi Aramco
change its benchmark to ICE Brent from Platts ‌Dubai, traders
said.

Saudi Aramco could not be immediately reached for comment
outside office hours.

Published on March 27, 2026