OMC stocks fall on petrol price reduction

Posted By:
Subscribe to GoodReturns

 OMC stocks fall on petrol price reduction
Bharat Petroleum Corporation: Quotes, News
BSE 682.35BSE Quote6 (0.88%)
NSE 682.40NSE Quote5.35 (0.78%)
Hindustan Petroleum Corporation: Quotes, News
BSE 517.50BSE Quote7.3 (1.41%)
NSE 517.95NSE Quote6.05 (1.17%)
Shares in oil marketing stocks fell, after these companies announced a price reduction of Rs 3.5 in the price of petrol.

Indian Oil was down 2.55% and was last trading at Rs 202.55 on the National Stock Exchange, while Bharat Petroleum was down 2.63% at Rs 322 and Hindustan Petroleum was down 1.33% in trade.

Oil marketing companies along with ONGC have been a little weak in the last few days of trade, after the government belied expectations of a steeper one time hike in diesel prices.

In fact, diesel price hike is unlikely to happen anytime soon given the fact that a few states are likely to go for election in the next two months.

GoodReturns.in

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'