India's ONGC, oil stocks gain on diesel hike proposal
MUMBAI Jan 10 (Reuters) - Shares in Oil & Natural Gas Corp rose as much as 3.6 percent on Thursday as part of a rally across oil companies after the oil ministry moved a proposal to raise diesel prices to the federal cabinet.
India's oil ministry has proposed to raise diesel prices by 1 rupee per month for 10 monhts and to increase the number of subsidised cylinders.
ONGC shares rose 3.1 percent as of 0416 GMT. Hindustan Petroleum Corp gained 2 percent, while Bharat Petroleum Corp rose 2.1 percent. Indian Oil Corporation was up 3.8 percent. (Reporting by Manoj Dharra and Rafael Nam; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- China not warlike, says Xi, as border standoff dominates India trip
- Scots vote on independence, United Kingdom's fate on knife-edge
- Modi calls for early settlement of China border issue
- UPDATE 2-Border standoff dominates China Xi's visit to India
- Nifty, Sensex surge nearly 2 percent, gain most in over three months
China is not a warlike nation, President Xi Jinping said on Thursday, during a rare trip to neighbour India that was dominated by a standoff on a barren Himalayan plateau between soldiers from the world's two most populous nations. Full Article | Slideshow