The world of shares keeps going up and down but this one feat has landed Tesla and SpaceX owner, Elon Musk, in more money than he already had in his pocket.

Making it the biggest single-day jump in the wealth of an entrepreneur, an order placed by car rental company Hertz shook the markets on Monday, making billionaire Elon Musk richer than he already is.

Hertz placed an order for 100,000 Tesla cars which increased the company's shares by as much as 14.9 per cent to $1,045.02 and brought Musk's 23 per cent stake to $289 billion. 

Pitching for the faster adoption of alternative fuels for vehicles, Union road transport minister Nitin Gadkari said on Monday that reducing the import and use of petroleum products will address “several” concerns of India. He said a section of those who have made good profit from the sale of crude oil provide “fund” for terrorism.

The minister said he has kept his promise to the then RSS Sarsanghachalak, K S Sudarshan that he would continue the campaign for reducing import and increase export and he continues to do so. “This is a Swadeshi and nationalist approach. Why should we import? People who have become wealthy by selling diesel and petrol have also financed the terrorists. We are number three in the import of petrol and diesel in the world. If we stop importing these, we will find solutions to many of our problems,” Gadkari said while addressing a business meet organised by International Vaish Federation in Delhi.

Petrol and diesel prices were hiked for the fifth consecutive day across the country on Sunday. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.

With a hike of ₹0.35, the petrol prices increased to ₹107.59 per litre in the national capital while the price of diesel was raised by the same amount to ₹96.32 per litre.

In Mumbai, petrol and diesel prices per litre stand at ₹113.46 and ₹104.38 respectively.

As for Kolkata and Chennai, petrol and diesel cost ₹108.11 and ₹99.43 respectively in Kolkata and ₹104.52 and ₹100.59 respectively in Chennai.

Reliance Jio Infocomm, a subsidiary of Jio Platforms, reported standalone net profit of Rs 3,528 crore for the quarter ended September 2021 (Q2FY22). Jio Platforms is the digital unit of Reliance Industries.

The company had posted a net profit of Rs 3,501 crore in the quarter ended June 2021.

The standalone revenue rose 4 percent to Rs 18,735 crore against Rs 17,994 crore, QoQ.

The standalone earnings, before interest, depreciation and amortisation (EBITDA) was at Rs 8,989 crore against Rs 8,617, while margin was at 48 percent versus 47.9 percent, QoQ.

With the hope of bringing down global crude prices, India reiterated its request to oil producing countries to increase their output. The price of Indian basket of crude is currently at around $82/barrel, up from $69/barrel in mid-August, supported by global demand recovery and limited production from major oil exporting nations.

"OPEC plus should factor in sentiments of energy consumers," Union minister of petroleum and natural gas HS Puri said on Wednesday. He added that "we are all in this together since there is a direct correlation between economic activity and oil price" and slowing economic activity will also lower demand for oil and gas. The minister was speaking at the 'India Energy Forum' by CERAWeek.