Oil and gas companies rally on pricing hopes

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 Oil and gas companies rally on pricing hopes
Indian Oil Corporation: Quotes, News
BSE 384.50BSE Quote8.5 (2.21%)
NSE 385.25NSE Quote9.3 (2.41%)
Oil India: Quotes, News
BSE 333.75BSE Quote0.95 (0.28%)
NSE 333.40NSE Quote1.25 (0.37%)
Shares of oil and gas exploration companies rallied on hopes that there would be a revision in gas prices, fuelling sentiments for stocks from the sector. Indian Oil was the star performer jumping more than 5% in trade.

Oil India rallied more than 2.5% and was last traded at Rs 285 on the bourses. ONGC on the other hand was the top gainer from the Nifty rallying 2.57%.

Oil marketing companies like BPCL and HPCL also gained on the exchanges on reports that there could be a possible diesel hike in the coming days.

Reliance Industries, also into gas exploration was the only stock that lost marginal ground in trade today.

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Read more about: ongc, reliance industries
Story first published: Friday, January 4, 2013, 12:49 [IST]
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