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Benchmark index <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> was down more than 500 points while <keyword id="583923" type="General" weightage="20" keywordseo="energy-stocks" source="Orion">energy stocks</keyword> picked up. <keyword id="58805" type="General" weightage="20" keywordseo="power-grid-corp" source="Orion">Power Grid Corp</keyword>, <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, <keyword id="45383" type="General" weightage="20" keywordseo="coal-india" source="Orion">Coal India</keyword>, IOC, BPCL and <keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> were up 2%-5%. Several <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword> rose in excess of 10 per cent on BSE as domestic equity indices -- BSE Sensex, NSE Nifty traded in the red on Tuesday amid selling in bluechip counters. Accordingly, the sticks that's rallied over 10 per cent on BSE included NTC Industries (16.9%), Paramone Concepts (12.90%), Novateor Research (10.66%), Stove Craft (10.61%), Cosco India (10.57%). The 30 share Sensex traded 475 points down at 59,602 points around noon while 50 shares Nifty fell 117 points at 17,737 points. In Nifty 50, about 21 stocks traded in green while 29 traded in red. Stocks such as NTC Industries, Novateor Research, Surana Telecom, Stove Craft touched their 52 week high while Nova Pub, Shanti Educational touched new 52 week low. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-gujarat-state-fertilizers-and-chemicals-surges-over-4-on-reports-of-anti-dumping-duty-approval-on-caprolactam/articleshow/86576235.cms">Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">Paras Defence and Space Technologies IPO: Here’s how to check allotment status</a>

Sensex down over 500 points; Power Grid Corp, NTPC, Coal India gain up to 5%

<ul><li>At 9:01 am, the BSE pre-open was trading 0.23% higher, indicating a positive start for the Indian benchmark index. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open on a higher note on Monday, led by positive cues from the Asian markets. At 9:01 am, the BSE pre-open was trading 0.23% higher, indicating a positive start for the Indian benchmark index. Other Asian peers were trading in the positive territory as well — the SSE Composite Index was up 0.18%, SGX Nifty gained 0.52%, and the Hang Seng Index was up 22 points. These are the stocks to watch out for during the trading session today:Power Grid The board of Power Grid Corporation of India in its meeting held December 12 approved the payment of an interim dividend of ₹5 per equity share of ₹10 each for the financial year 2020-21. The interim dividend will be paid to the members on January 8. The share price of Power Grid closed 0.26% higher on Friday. Future Retail Reliance acquired Future Retail’s hypermarket chain Big Bazaar⁠— a deal <a href="https://www.businessinsider.in/business/news/future-retail-reliance-deal-bse-to-consult-sebi-after-amazons-request-heres-all-that-has-happened-so-far/articleshow/78949099.cms">challenged by Amazon</a> in Indian court⁠— is planning to open 16 more stores to take the overall count to 300 over the next three quarters. The Future Group firm, as per its expansion strategy, is expanding into the smaller tier-II cities in India, which is less impacted by the pandemic and has aspirations and an emerging consumption class. The share price of Future Retail closed 0.89% higher on Friday. Cipla Cipla on Friday announced the settlement of its patent litigation with a Bristol Myers Squibb (BMS) subsidiary on Revlimid, a drug for blood cancer. A wholly-owned subsidiary of Celgene, BMS has agreed to provide Cipla with a license to manufacture and sell certain limited volumes of generic lenalidomide drugs in the US. The share price of Cipla closed 0.88% lower on Friday. KEC International The global infrastructure major has secured new orders worth ₹1,438 crore across its various businesses. The share price of KEC International closed 0.77% lower on Friday. Delta Corp Delta Corp informed exchanges that it had received approval from the Goa Investment Promotion and Facilitation Board to set up an integrated resort consisting of hotels, convention centre, multiplex cinema, retail facilities at Pernem, Goa. The share price of Delta Corp closed 2.7% higher on Friday. Yes Bank and Sical logistics Yes Bank has sold 2.56% of the total equity in Coffee Day group-owned Sical logistics. The share price of Yes Bank closed 5% lower on Friday. Central Bank of India The capital raising committee of the Central Bank of India has approved the proposal for raising capital funds up to ₹500 crore. The share price of the Central Bank of India closed 0.33% lower on Friday. Adani Power Adani Power on Saturday said electricity regulator Maharashtra Electricity Regulatory Commission (MERC) had passed two orders, which would enable its arm APML to claim revised compensation of higher coal from Maharashtra Electricity Distribution Company Ltd (MSEDCL). The share price of Adani Power closed 5% lower on Friday. Burger King India The shares of Burger King India will hit the bourses today. The shares will be listed on both BSE and NSE. The grey market premium suggests an upside of 85% over the issue price band set at ₹59-60. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/huawei-reportedly-worked-with-4-additional-companies-to-build-surveillance-tools-that-track-people-by-ethnicity-following-recent-revelations-that-it-tested-a-uighur-alarm/articleshow/79712815.cms" data-type="tilCustomLink"> Huawei reportedly worked with 4 additional companies to build surveillance tools that track people by ethnicity, following recent revelations that it tested a 'Uighur alarm'</a> <a href="https://www.businessinsider.in/international/news/an-iphone-factory-in-india-has-erupted-in-violence-over-a-dispute-about-workers-pay/articleshow/79707169.cms" data-type="tilCustomLink">An iPhone factory in India has erupted in violence over a dispute about workers' pay</a>

Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others

<ul><li><keyword id="583923" type="PERSON" weightage="60" keywordseo="energy-stocks">Energy stocks</keyword> were up broadly on Tuesday following a blast of winter weather that hit much of the US.</li><li>The frigid temperatures that swept across the country led to a surge in demand for energy. </li><li>The unprecedented cold has roiled energy <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> and has sent spot prices of electricity higher. </li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></li></ul>Energy stocks were up broadly on Tuesday as frigid temperatures that swept across the country led to a surge in demand for energy, causing prices to jump. The historic blast of winter weather has roiled <a href="https://markets.businessinsider.com/news/stocks/oil-price-natural-gas-texas-freezing-weather-energy-2021-2-1030086085">energy markets</a>, sending spot prices of electricity higher. It has also caused some alternative sources of power, such as wind turbines, to freeze, rendering them ineffective. As cold weather settles over large swathes of the US, demand for heating has increased, testing the limits of the power grid of some states, such as Texas, which <a href="https://markets.businessinsider.com/news/stocks/oil-price-natural-gas-texas-freezing-weather-energy-2021-2-1030086085">does not pay generators to keep capacity in reserve</a>.<a href="https://www.bloomberg.com/news/articles/2021-02-16/blizzard-cuts-u-s-oil-output-by-over-2-million-barrels-a-day?srnd=markets-vp">According to Bloomberg</a>, weather conditions have also led to drop in oil production of two million barrels per day.In Dallas, the temperature fell to <a href="https://forecast.weather.gov/MapClick.php?textField1=32.78&amp;textField2=-96.8#.YCuk4hP7RhE7RhE7RhE">4F (-16C)</a> overnight. The Lone Star state's battered infrastructure left <a href="https://apnews.com/article/winter-tornado-hits-north-carolina-2ca1ad6a57372ee2d409bc34897de96b">four million residents</a> <a href="https://poweroutage.us/">without power for hours</a>. Temperatures also plunged across Oklahoma, Kansas, New Mexico, and Colorado.<a href="https://markets.businessinsider.com/commodities/news/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest">WTI crude oil</a> was up 0.74% to $59.91 per barrel as of 10:40AM E.T. Here is a snapshot of energy sector stocks that were up on Tuesday morning:<ul><li><a href="https://markets.businessinsider.com/stocks/apa-stock">Apache Corp</a>, up 8.5%</li><li><a href="https://markets.businessinsider.com/stocks/mro-stock">Marathon Oil Corp,</a> up 6.48%</li><li><a href="https://markets.businessinsider.com/stocks/oxy-stock">Occidental Petroleum Corp</a>, up 4.10%</li><li><a href="https://markets.businessinsider.com/stocks/eog-stock">EOG Resources Inc </a>, up 3.94%</li><li><a href="https://markets.businessinsider.com/stocks/pxd-stock">Pioneer Natural Resources </a>, up 3.91%</li><li><a href="https://markets.businessinsider.com/stocks/fang-stock">Diamondback Energy Inc </a>, up 3.67%</li><li><a href="https://markets.businessinsider.com/stocks/hfc-stock">Hollyfontier Corp</a> ,up 3.24%</li><li><a href="https://markets.businessinsider.com/stocks/xom-stock">Exxon Mobile Corp </a>, up 3.15%</li><li><a href="https://markets.businessinsider.com/stocks/mpc-stock">Marathon Petroleum Corp </a>, up 2.08%</li></ul>

Oil and gas stocks lead record-breaking charge for S&P 500 as winter blast sends energy prices soaring

<ul class="summary-list"><li>Power grid attacks doubled from the first quarter of 2022 to the same period in 2023, Politico reported.</li><li>Many of these attacks can be traced to right-wing extremism.</li></ul>The number of attacks on power infrastructure across the United States is on the rise, a <a href="https://www.politico.com/news/2023/09/10/power-grid-attacks-00114563">new report from Politico</a> says, and political extremism is playing a role.Politico found that the number of power grid attacks in the first three months of 2023 had doubled compared to the same time period in 2022. In 2022, the biggest attack on a power grid affected 45,000 people in Virginia, North Carolina, and South Carolina, <a href="https://www.businessinsider.com/electrical-power-grid-attack-us-infrastructure-terrorism-2023-1">Insider previously reported.</a>Right-wing extremism has played a major role, Insider reported, as neo-Nazi groups target power grids because of their belief in "accelerationism," that is, the theory that destabilizing acts will catalyze a race war.Power grid attacks spiked during both the 2020 and 2022 election seasons, Manny Cancel, senior vice president at the North American Electric Reliability Corp, told Politico.Power grids have suffered from both physical and cyber attacks in recent years. The FBI has warned power executives to remain diligent and aware of threats to the grid, Politico reported.

Extremist attacks on US power grids are increasing and election seasons are usually a popular time for them, experts say

<ul><li>The 30-share BSE index was trading 0.87% higher; while NSE Nifty jumped 96.05 points at 9:50 am </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 300 points in early trade on Monday, tracking gains in index majors ICICI Bank, HDFC Bank and Reliance Industries amid positive trend in Asian markets. The 30-share BSE index was trading 0.87% higher; while NSE Nifty jumped 96.05 points at 9:50 am These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr></tbody></table>*as of September 24, 10:00 am These are the top stocks in news today. Future Group stocks The shares of Future Group companies rallied after media <a href="https://www.thehindubusinessline.com/money-and-banking/biyani-close-to-deal-with-sbi-to-future-proof-insurance-arms/article32709290.ece">reports </a>claimed that as a part of a plan to cut down on debt, the Kishore Biyani-owned Future Group is set to ink a deal with State Bank of India for the sale of both the general and life insurance segments. At 9:50 am, Future Enterprises Future Lifestyle, Future Retail were locked in a 5% upper circuit set by the stock-exchanges. Hero MotoCorp rallied 2% The shares of Indian bike major Hero MotoCorp gained 2% after <a href="https://www.timesnownews.com/business-economy/companies/article/harley-davidson-close-to-deal-with-indias-hero-motocorp-after-stopping-local-manufacturing-sources/657938">media reports</a> surfaced that the US bike maker Harley Davidson is in talks with the Indian two-wheeler major to enter into a distribution arrangement. This will allow the Indian company to import and sell Harley bikes as its sole distributor. Indoco Remedies gain 5% The Mumbai based drug maker Indoco Remedies launched its own version of generic Favipiravir under the brand name Fevindo. The drug approved by DCGI in the treatment of Covid-19, Fevindo-400 is an antiviral drug, effective against the RNA‐based influenza virus. Vodafone Idea up 4% The shares of Vodafone Idea surged 4% during the early trade hours on Monday. This after the telecom regulator TRAI, decided to drop proceedings against Vodafone Idea in priority plan matter after the telco withdrew contentious claims on faster speed and modified its offering. Surya Roshni leaps 7% The shares of Indian multinational company Surya Roshni surged 7% after bagging ₹272.86 crore order for the supply of Coated API Line Pipes to GAIL (India) and Indradhanush Gas Grid (IGGL) for the North-East Gas Grid PipeLine project. PVR Limited up 7% PVR Limited shares surged during the early trade hours on Monday after Mamata Banerjee led West Bengal government has allowed the reopening of cinema halls from October 1 with certain Covid-19 restrictions. NTPC up 4% The shares of NTPC surged 4% after the state-owned company said it has successfully synchronized a 660-MW unit of its supercritical thermal power plant in Bihar with the grid. SEE ALSO: <a href="https://www.businessinsider.in/india/news/hyperloop-in-bengaluru-might-help-you-reach-the-city-in-10-minutes-from-the-airport/articleshow/78357354.cms" data-type="tilCustomLink">Hyperloop in Bengaluru might help you reach the city in 10 minutes from the airport</a> <a href="https://www.businessinsider.in/thelife/news/the-10-richest-family-aposdynastiesapos-in-asia-who-have-a-collective-net-worth-of-over-250-billion/10-the-kwek/slidelist/78298350.cms" data-type="tilCustomLink">The 10 richest family 'dynasties' in Asia, who have a collective net worth of over $250 billion</a>

Top stock movers — Future Retail, Hero MotoCorp, Indoco Remedies, Surya Roshni, PVR, Vodafone-Idea and more

New Delhi, Dec. With the union budget-making process getting underway, <keyword id="7706673" type="UNKNOWN" weightage="20" keywordseo="finance-minister-nirmala-sitharaman">Finance Minister Nirmala Sitharaman</keyword> held her first pre-budget consultation with top industrialists on Monday. The meeting assumed importance as it would bring <keyword id="6354887" type="UNKNOWN" weightage="20" keywordseo="Industry">industry</keyword> and government together to identify <keyword id="7848060" type="UNKNOWN" weightage="20" keywordseo="Critical-Areas">critical areas</keyword> of <keyword id="6473198" type="UNKNOWN" weightage="20" keywordseo="reform">reform</keyword> that would pave the way for reinvigorating growth in the economy hit hard by the pandemic this year. The ideas from the industry would go as valuable inputs for government budgetary exercise for FY22. Sources said that the who's who of India Inc., including Uday Kotak from Kotak Mahindra Bank, Biocon's Kiran Majumdar Shaw attended the meeting organised through video conferencing. Along with Finance Minister, Finance Secretary A.B. Pandey, Secretary, DEA, Tarun Bajaj, Chief Economic Advisor K. Subramanian besides other senior officials were also present in the meeting. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-power-grid-cipla-delta-corp-yes-bank-adani-power-and-others/articleshow/79713824.cms">Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-india-shares-nearly-doubles-on-listing-debut-pushes-valuation-past-4000-crore/articleshow/79715269.cms">Burger King India shares nearly doubles on listing — debut pushes valuation past ₹4,000 crore</a> <a href="https://www.businessinsider.in/business/startups/news/the-difference-between-doordash-zomato-and-swiggy-is-not-in-what-the-companies-do-its-where-they-do-it/articleshow/79715531.cms">The difference between DoorDash and Indian peers Zomato and Swiggy is not in what the companies do⁠ — it’s where they do it</a>

Finance Minister Nirmala Sitharaman holds the first round of pre-budget talks with top industrialists

The 30-scrip Sensitive Index (<keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword>) and broader 50-scrip Nifty on the National Stock Exchange (NSE) extended their losses from the previous three consecutive sessions and declined on Friday. At 10.25 a.m., Sensex traded at 58,593 points, down 0.9 per cent from the previous close of 59,464 points. It opened at 59,039 points. Nifty traded at 17,599 points, down 0.9 per cent from the previous close of 17,757 points. It opened at 17,613 points. <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, Tech Mahindra, <keyword id="45383" type="General" weightage="20" keywordseo="coal-india" source="Orion">Coal India</keyword>, Adani Ports, Bharti Airtel were some of the top losers, NSE data showed. Top gainers during the early trade were Hindustan Unilever, <keyword id="9897896" type="General" weightage="20" keywordseo="Tata-consumers" source="Orion">Tata Consumers</keyword>, Bajaj Auto, Hero MotoCorp, and Power Grid Corporation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/last-day-to-subscribe-to-ags-transact-ipo-gmp-drops-to-10/articleshow/89026193.cms">Last day to subscribe to AGS Transact IPO, GMP drops to ₹10</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shoppers-stop-shares-jump-15-after-company-reports-first-profit-in-10-quarters/articleshow/89031576.cms">Shoppers Stop shares jump 15% after company reports its first profit in more than two years</a>

Markets continue to fall for fourth straight sessions; Bajaj Finserv, Coal India, Shree Cement fall sharply

<ul class="summary-list"><li>Failing US power grids could be the next vulnerability in the supply chain for <keyword id="11896879" type="UNKNOWN" weightage="60" keywordseo="oil" source="Orion">oil</keyword>, energy trader Brynne Kelly says.</li><li>Most of western and central US is at high risk of <keyword id="11917808" type="UNKNOWN" weightage="60" keywordseo="electricity" source="Orion">electricity</keyword> shortfalls or disruption this summer, research has found. </li></ul><ul class="summary-list"></ul>Electricity grid problems in the US are a potential "<keyword id="12980098" type="UNKNOWN" weightage="60" keywordseo="black-swan" source="Orion">black swan</keyword>" that could wreak havoc in energy <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, according to Cornerstone Futures research director Brynne Kelly. In an <a href="https://www.cornerstoneglobalcommodities.com/post/energy-markets-is-electricity-the-next-black-swan">analyst note</a>, the energy trader argues that failing power grids and electricity shortages could be the next vulnerability in the supply chain for oil and its products, such as gasoline.Those under-the-surface risks are being overlooked, and that makes them a possible "black swan" — an unpredicted event with a severe impact. While crude oil isn't much used to generate electricity, power itself is needed to make oil, Kelly noted."Said another way, a failing power grid COULD BE the next oil chain supply problem," she said."Problems with power grids across the US and other countries are a potential catalyst for chaos in energy markets that are underappreciated."The reliability of the US electricity grid is being taken for granted, Kelly said. But it's under pressure as the industry goes through a mandated shift from fossil fuels to <keyword id="11963839" type="UNKNOWN" weightage="60" keywordseo="clean-energy" source="Orion">clean energy</keyword> sources, and with the peak summer demand ahead.She pointed to the impact of a rare 2021 winter storm in Uri, Texas, to show how disruption in electricity supply can spread to other sectors. Failures in the state's ERCOT power grid proved catastrophic for operations there, as the domino effect hit energy producers, as transportation, water and telecoms.Texas is one of the largest oil-producing states in the US, accounting for 42.7% of crude oil production, <a href="https://www.eia.gov/energyexplained/oil-and-petroleum-products/where-our-oil-comes-from.php">according to the US Energy Information Administration.</a>"A power grid failure on any scale larger than a local one like we saw in Texas, would be, and could be potentially catastrophic," Kelly said. "If the fallout from Uri in Texas ... were any indication, natural gas and oil pricing could be affected by power failures due to heat, storms or some other unplanned event," she added."We are not predicting or sounding alarms, but the risk is poorly quantified. It won't matter until it matters, unfortunately."Concerns are mounting about US power grids ability to cope with peak summer demand, as the clean energy shift moves forward without necessarily having the technology in place to keep them resilient.In a <a href="https://www.nerc.com/pa/RAPA/ra/Reliability%20Assessments%20DL/NERC_SRA_2022.pdf">recent assessment</a> of the US electricity grid's reliability, the North American Electric Reliability Corp. warned about capacity shortfalls and high risk of energy emergencies due to heatwaves, droughts and wildfires, among other factors. "Russian attackers may be planning or attempting malicious cyber activity to gain access and disrupt the electric grid in North America in retaliation for support to Ukraine," the report's authors said.Electrical grids in the west and most of central US, including Texas, have an high risk of insufficient operating reserves, the NERC found.But in a recent note, <a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/052422-forecast-for-busy-hurricane-season-could-mean-hits-to-us-power-gas-markets">S&amp;P Global</a> noted an above-normal Atlantic hurricane season is predicted for the US this year, which could dampen power demand in Texas. When storms hit in 2021, daily power burn in the region dropped 25%, it noted.The most important thing, according to Kelly, is that the markets for oil, gasoline and natural gas are already squeezed on the supply side, given the Ukraine war and sanctions. A break in the reliability of electricity is a potential risk that should be acknowledged."So far there have not been problems at the last stop on the chain, power generation and transmission. Regardless, the supply chain is vulnerable," Kelly said.

You Searched For "Power Grid Corp stock" and got 8 results

Sensex down over 500 points; Power Grid Corp, NTPC, Coal India gain up to 5%

IANS

Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others

Navdeep Yadav

Oil and gas stocks lead record-breaking charge for S&P 500 as winter blast sends energy prices soaring

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