IndianOil shares rise 4.15%

DALAL STREET SPIKES

Shares of country's biggest refiner Indian Oil rose by 4.15 per cent or Rs 18.35 on the Bombay Stock Exchange as investors perceived the lower oil prices and strengthening of rupee will reduce losses at oil refiners.

The landed price of crude will come down benefiting oil refiners like Indian Oil. The Indian government bars refiners from raising retail prices for fuel in line with the increase in crude oil costs to control inflation.