Shares Of OMCs Trade Lower After Decision To Not Pass BSVI Capex Cost

Shares of oil marketing companies such as BPCL, HPCL and IOC traded with losses on April 3, 2020 as they decided not to pass on the BSVI capex cost of as much as Rs. 35,000 crore to end consumers. The decision has been taken given the current crisis in the country due to the coronavirus pandemic.

Shares Of OMCs Trade Lower After Decision To Not Pass BSVI Capex Cost

In a joint statement on Thursday, these companies said they have fully transitioned to BS-VI- compliant petrol and diesel from April 1, 2020.

Earlier, fuel retailing companies planned to bring about a price hike of Rs. 0.5-1/litre.

Shares of BPCL fell as much as 5.3% while that of HPCL and IOC fell 4.8% and 2.9% respectively.

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