HPCL, BPCL, IOC rally on hopes for fuel price hikes

MUMBAI Mon Jan 7, 2013 12:29pm IST

An employee fills a car with petrol at a gas station in Jammu February 26, 2010. REUTERS/Mukesh Gupta/Files

An employee fills a car with petrol at a gas station in Jammu February 26, 2010.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Stocks

   

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)

FILED UNDER:

Reuters Showcase

Markets Weekahead

Markets Weekahead

Column - Caution advised in a trader’s market  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

GDP Revised

GDP Revised

Economic growth revised up by almost 50 percent  Full Article 

Australian Open

Australian Open

Williams overpowers Sharapova to win 19th grand slam  Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

India Art Fair

India Art Fair

Art fair turns India's capital into art hub.  Full Article 

Movie Review

Movie Review

"Rahasya" is an ode to Agatha Christie.  Full Article 

Review: Hawaizaada

Review: Hawaizaada

Movie Review: Hawaizaada  Full Article | Related Story 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage