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Reliance, BPCL hit 52 week highs as Oil and gas stocks rally
Shares from the oil and gas sector were in demand today on renewed buying interest following hopes of better prospects for these companies once there is a stable government in place.
BPCL hit a 52-week high of Rs 487, while Reliance too hit a 52-week high of Rs 988.75. ONGC and Gas Authority of India were the other stocks from the oil and gas stocks that gained ground in trade.
Investors are hopeful that the sector would see better times ahead with issues like gas pricing being sorted out by the new government. Also, hopes are high on the diesel de-regulation front, which raises prospects for oil marketing companies like HPCL and BPCL.
GoodReturns.in
Story first published: Tuesday, April 22, 2014, 13:11 [IST]
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