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Shares of all three listed oil marketing companies (OMCs) – Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) – were trading higher after announcing hike in diesel price effective October 16, 2015.
Among the individual stocks, BPCL has rallied 3% to Rs 914 on the BSE, followed by HPCL (2% at Rs 800) and IOC (1% at Rs 405). At 11:59 am, the Sensex was down 0.18% at 26,962 points.
“The current level of international prices and rupee-dollar exchange rate warrant a price increase, which is being passed on to consumers with this price revision,” IOC said. CLICK HERE TO READ FULL REPORT.
Meanwhile, foreign institutional investors (FIIs) have increased their holdings in OMCs in July-September 2015 quarter, according to shareholding pattern data filed by these companies with the stock exchange.
In BPCL, FIIs hiked their stake by 1.5 percentage points to 19.67% in September quarter from 18.13% at the end of June quarter. In HPCL, they increased their stake to 19.84% from 18.86% and IOC to 3.27% from 2.44%, the data shows.
Among the individual stocks, BPCL has rallied 3% to Rs 914 on the BSE, followed by HPCL (2% at Rs 800) and IOC (1% at Rs 405). At 11:59 am, the Sensex was down 0.18% at 26,962 points.
“The current level of international prices and rupee-dollar exchange rate warrant a price increase, which is being passed on to consumers with this price revision,” IOC said. CLICK HERE TO READ FULL REPORT.
Meanwhile, foreign institutional investors (FIIs) have increased their holdings in OMCs in July-September 2015 quarter, according to shareholding pattern data filed by these companies with the stock exchange.
In BPCL, FIIs hiked their stake by 1.5 percentage points to 19.67% in September quarter from 18.13% at the end of June quarter. In HPCL, they increased their stake to 19.84% from 18.86% and IOC to 3.27% from 2.44%, the data shows.
