PSU OMCs lose steam as Oil Minister rules out possibility of immediate fuel price hike

HPCL is currently trading at Rs 302.00, down by 6.90 points or 2.23%Public Sector Undertaking's (PSUs) Oil marketing companies (OMCs) stocks lost all steam after Oil Minister S. Jaipal Reddy, denying the reports about oil price rise in the near future, said that Govt has no immediate plan to raise domestic fuel prices and that it was now up to the cabinet to decide on the thorny issue of reducing hefty subsidies on diesel, cooking gas and kerosene.

Bharat Petroleum Corporation (BPCL) is currently trading at Rs 344.25, down by 3.60 points or 1.03% from its previous closing of Rs 347.85 on the BSE. The scrip opened at Rs 354.20 and has touched a high and low of Rs 356.00 and Rs 336.10 respectively. So far 181178 shares were traded on the counter.

Hindustan Petroleum Corporation (HPCL) is currently trading at Rs 302.00, down by 6.90 points or 2.23% from its previous closing of Rs 308.90 on the BSE. The scrip opened at Rs 312.55 and has touched a high and low of Rs 314.00 and Rs. 299.05 respectively. So far 238122 shares were traded on the counter.

Indian Oil Corporation (IOC) is currently trading at Rs 246.10, down by 1.20 points or 0.49% from its previous closing of Rs 247.30 on the BSE. The scrip opened at Rs 250.00 and has touched a high and low of Rs 252.40 and Rs 242.50 respectively. So far 69389 shares were traded on the counter.