Indian shares subdued as higher crude prices weigh

In India on August 12, 2026, Indian shares were subdued as higher crude prices weighed on the market. Indian refiners sought 6 million barrels of spot crude, and Russia turned to India for gasoline, importing Indian fuel for the first time, as Ukraine hits its refineries.

In corporate news, the chair of Tata, Chandrasekaran, decided to step down after tension with the group's controlling charity, and Tata shares fell. Bank of America struck a $1.9 billion deal for a 49.9% stake in Jio Credit. India's pharmaceutical exports rose 6.8% in the first quarter of FY27, and Yulu raised $93 million.