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
- 'Plastic' Halloween skulls found in Connecticut are human remains
- Individual genetic differences may affect Ebola survival - study
- UPDATE 1-J.P. Morgan found hackers through breach of corporate event website -media
- Army officer takes charge in Burkina Faso, ousting general
- Test flight of Virgin Galactic spaceship ends in fatal crash in California
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article