Oil marketing cos trading up 8-12%
According to a CNBC TV18 report (quoting from NewsWire 18), the new government may consider free pricing of auto fuels. According to the report, the oil minister has prepared a draft note on the free fuel pricing plan. This plan, if comes into effect, may lead to Rs 2 per litre hike in petrol prices.
However, if crude breaches USD 75/bbl, there will be no free fuel pricing by oil marketing companies.
Oil companies have been buzzing and below is an update of their performance today.
Bharat Petroleum Corporation, BPCL touched a 52-week high of Rs 450. It has touched an intraday high of Rs 450 and an intraday low of Rs 401. At 10:27 am, the share was quoting at Rs 443.10, up Rs 39.80, or 9.87%.
Hindustan Petroleum Corporation, HPCL touched a 52-week high of Rs 324.70. HPCL has touched an intra day high of Rs 324.70 and an intra day low of Rs 285.55. At 10:23 am the share was quoting at Rs 315.05, up Rs 32.90, or 11.66%.
Indian Oil Corporation, IOC touched a 52-week high of Rs 509. IOC has touched an intraday high of Rs 509 and an intraday low of Rs 462. At 10:25 am, the share was quoting at Rs 499, up Rs 37.30, or 8.08%.