PSU OMCs slip after interim budget
Three PSU OMCs fell by 0.14% to 1% at 13:04 IST on BSE after finance minister provided Rs 65000 crore for fuel subsidy for the financial year ending March 2015.
HPCL (down 1%), Indian Oil Corporation (IOC) (down 0.58%) and BPCL (down 0.14%), edged lower.
The S&P BSE Sensex was up 48.34 points, or 0.24% at 20,415.16.
In the interim budget announced today, finance minister P. Chidambaram provided Rs 65000 crore for fuel subsidy for the financial year ending March 2015 (FY 2015).
The government, this year, absorbed the rollover of Rs 45000 crore from the fourth quarter of 2012-13 and it will rollover only Rs 35000 crore from the fourth quarter of this year into the next year, Chidambaram said in the budget speech today.
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