OMCs reel under pressure on the likelihood partial rollback of petrol price hike

State run Oil marketing companies (OMCs) have been reeling under pressure, on account of wide-spread murmurs of partial rollback of petrol price hike, which comes in the backdrop of political turmoil. Bharat bandh has been called by the BJP and the Left today to protest last week's hike in petrol prices, which was the steepest ever at Rs 6.28 plus local taxes. As per some media reports, Hindustan Petroleum Corp (HPCL) and Indian Oil Corp have hinted at a cut in rates of petrol between Rs 1.25 and 1.67 excluding taxes.

Bharat Petroleum Corporation is currently trading at Rs. 686.40, down by 4.65 points or 0.67% from its previous closing of Rs 691.05 on the BSE. The scrip opened at Rs 691.00 and has touched a high and low of Rs 698.00 and Rs 682.50 respectively. So far 32779 shares were traded on the counter.

Hindustan Petroleum Corporation is currently trading at Rs 287.00, down by 2.55 points or 0.88% from its previous closing of Rs 289.55 on the BSE. The scrip opened at Rs 288.20 and has touched a high and low of Rs 289.75 and Rs 285.10 respectively. So far 43056 shares were traded on the counter.

Oil India is currently trading at Rs. 433.50, down by 11.65 points or 2.62% from its previous closing of Rs 445.15 on the BSE. The scrip opened at Rs. 441.85 and has touched a high and low of Rs 442.25 and Rs 433.30 respectively. So far 9138 shares were traded on the counter.