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 322.05BSE Quote4.85 (1.51%)
NSE 321.50NSE Quote5.4 (1.68%)
Oil India: Quotes, News
BSE 411.75BSE Quote2.5 (0.61%)
NSE 411.95NSE Quote2.95 (0.72%)
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.


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