MARKET EYE-Indian oil marketers surge on diesel price hike hopes

Thu Jan 17, 2013 2:56pm IST

Related Topics

Stocks

   

* Shares in India's state-run oil marketing companies surge
after the government allows them to set diesel prices, despite
uncertainty about the specifics of the
announcement. 
* Hindustan Petroleum Corp gains 8.9 percent, after
touching its highest level since October 2011, while Bharat
Petroleum Corp gains 5.9 percent, and Indian Oil Corp
 is up 7.8 percent.
* HPCL has gained 12.1 percent in 2013, as of Wednesday's close,
adding 11.95 billion rupees to its market cap.
* "Worst time for refineries companies is by and by coming to an
end. Refineries shares are quoting at ridiculous valuation,"
said Vijay Kedia, director at Kedia Securities, talking about
their low valuations.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
FILED UNDER:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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