HPCL, BPCL, IOC rally on hopes for fuel price hikes
MUMBAI (Reuters) - Shares in state-run oil companies extended a recent rally on Monday on growing expectations the government will gradually raise the prices for diesel and liquefied petroleum gas, traders said.
Hindustan Petroleum Corp rose 5.5 percent, while Bharat Petroleum Corp gained 4.6 percent. Indian Oil Corp rose 1.9 percent.
Fuel subsidies in India are borne by the government, marketing and refining companies, as well as explorers.
(Reporting by Abhishek Vishnoi, Manoj Dharra; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- UPDATE 10-Vice-principal of South Korea school in ferry disaster commits suicide
- UPDATE 3-Avalanche kills at least 12 guides in deadliest incident on Mount Everest
- India passes halfway mark in election with BJP gaining strength
- Vice-principal of South Korea school in ferry disaster commits suicide
- Mediterranean diet may slow diabetes progression
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article