PSU OMCs decline after slashing petrol, diesel prices

Shares of three state-run oil marketing companies fell 0.8% to 1.28% at 13:36 IST on BSE after announcing reduction in petrol and diesel prices.

HPCL (down 1.08%), BPCL (down 1.28%) and Indian Oil Corporation (IOCL) (down 0.8%) declined.

Meanwhile, the S&P BSE Sensex was down 185.05 points or 0.66% at 27,882.26

HPCL had outperformed the market over the past one month till 14 August 2015, rising 3.15% compared with a 0.48% rise for the Sensex. The scrip also outperformed the market in past one quarter, gaining 45.69% as against Sensex's 3.17% rise.

BPCL had underperformed the market over the past one month till 14 August 2015, falling 5.44% compared with a 0.48% rise for the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 15.7% as against Sensex's 3.17% rise.

Indian Oil Corporation (IOCL) had underperformed the market over the past one month till 14 August 2015, falling 11.3% compared with a 0.48% rise for the Sensex. The scrip, however, outperformed the market in past one quarter, rising 16.6% as against Sensex's 3.17% rise.

IOCL after market hours on Friday, 14 August 2015, announced reduction in petrol and diesel prices with effect from 15 August 2015. The retail selling price of petrol was reduced by Rs 1.27 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of petrol in Delhi has become Rs 63.20 per litre. The retail selling price of diesel was reduced by Rs 1.17 per litre at Delhi (including state levies) with corresponding price revision in other states. With the latest revision, the price of diesel in Delhi has become Rs 44.95 per litre.

PSU OMCs review fuel prices during the middle of the month and on the last day of the month based on the average imported oil price in the preceding fortnight.

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