Indian oil companies shares rally on hopes for fuel price hikes

Mon Jan 7, 2013 12:26pm IST

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

MUMBAI, Jan 7 (Reuters) - Shares in India's 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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Election 2014

Election 2014

Kashmiris wary as Modi challenges for power.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

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