The government's decision of hike the prices of fuel had its impact on three major oil refining stocks - BPCL, HPCL and IOC. BPCL closed up 11.73 per cent at Rs 397.30, HPCL went up by 7.21 per cent at Rs 342 while Indian Oil also closed up 6.80 per cent at Rs 475.85.
These were the major gainers and in fact led the rally in the markets. Among others stocks in the sector, Kochi Refineries also closed up 5.15 per cent at Rs 212.15, IBP closed up 2.37 per cent at Rs 539.95, MRPL ended up 1.22 per cent at Rs 45.65 while Bongaigaon Refinery was up 2.03 per cent at Rs 100.60.
Petrol and diesel prices have been hiked by around Rs two per litre while LPG prices has seen a hike of Rs 20 per cylinder.
Fuel price hike jacks up oil firms
DALAL STREET SPIKES
Our Markets Bureau / Mumbai Nov 06, 2004, 21:39 IST
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