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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

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