Oil firms rise, diesel price hike hopes rekindle

HPCL up 0.9%, BPCL soared 1.3%, while IOCL rose 1%

Shares in oil marketing companies rose on media reports of a potential hike in diesel and other fuel prices after the monsoon session of Indian parliament ends on Friday, dealers say.

Analysts say state-run oil marketing companies sell diesel at a loss of Rs 17 a litre, kerosene at Rs 32 a litre and domestic LPG at Rs 347 per cylinder.

Hindustan Petroleum Corp rose 0.9%, Bharat Petroleum Corp rose 1.3%, while Indian Oil Corp rose 1%.