Indian oil companies shares rally on hopes for fuel price hikes

Mon Jan 7, 2013 12:26pm IST

Related Topics

Stocks

   

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

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

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