Petrol Stop

BPCL, HPCL, IOC gain on Rs 3000 crore compensation

Sunday, 31 October 2010

01 Nov 2010;economictimes.indiatimes.com:MUMBAI: Shares of oil marketing companies like BPCL, HPCL and Indian Oil Corporation were in action on reports that the government has agreed to give additional Rs 3000 crore as subsidy to compensate for losses they incurred on the sale of fuel during the first half of the current fiscal. At 10:20 am; BPCL was at Rs 745.50, up Rs 15.30 or 2.10 per cent. The scrip touched a high of Rs 748.50 and low of Rs 734 in trade so far. Around 23,000 shares were traded in the counter on the BSE. Shares of HPCL moved 2.43 per cent higher to Rs 498.65. The scrip touched intraday high of Rs 499 and low of Rs 491. Around 23,000 shares were traded in the counter on the BSE. IOC advanced 1.92 per cent higher to Rs 426.60, up 1.92 per cent on the BSE. The stock gyrated between high of Rs 427.50 and low of Rs 420 in trade so far. Over 11000 shares were traded in the counter.