Shares of oil marketing companies bounced back Monday, surging up to 8 per cent after a massive sell-off in the last two trading sessions.
The scrip of Hindustan Petroleum Corporation soared 8.15 per cent and Indian Oil Corporation jumped 5.63 per cent on BSE.
Bharat Petroleum Corporation gained 0.19 per cent.
Shares of oil marketing companies Friday fell sharply by up to 25 per cent.
Oil marketing firms HPCL, BPCL and IOC had plummeted up to 12 per cent Thursday also after the government announced Rs 2.50 per litre cut in petrol and diesel prices as it reduced excise duty and asked oil companies to absorb another Re 1.
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