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HPCL, BPCL and Indian Oil Corp drop up to 3% as crude oil prices rise

At 10:30 am, HPCL was trading over 3 per cent lower at Rs 255.15 apiece on BSE while BPCL was down 1.66 per cent at Rs 352.

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Kotak Securities sees robust EBITDA of the OMCs in the fourth quarter of the financial year 2018-19 (FY19), aided by elevated auto fuel marketing margins and adventitious gains.

SI Reporter New Delhi

2 min read Last Updated : Apr 08 2019 | 10:54 AM IST

Shares of oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) dropped up to 3 per cent in the morning trade on Monday as the international crude oil prices rose to their highest level since November 2018, owing to OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, and strong US jobs data.

At 10:30 am, HPCL was trading over 3 per cent lower at Rs 255.15 apiece on BSE while BPCL was down 1.66 per cent at Rs 352. Shares of IOC were trading over a per cent lower at Rs 156.45