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OMCs gain on hike in fuel prices

IOC, BPCL and HPCL were up 1% to 2% on the BSE in intra-day trade.

IOC, BPCL, HPCL eye Rs 60k-cr refinery
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SI Reporter Mumbai
Shares of oil marketing companies (OMCs) were trading higher by up to 2% on the BSE after these companies raised petrol and diesel prices with effect from midnight of Sunday, January 15th 2017.

Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were up 1% to 2% on the BSE in intra-day trade. At 09:52 am; the S&P BSE Sensex was down marginally by 0.10% or 27 points at 27,211.

This is the second hike in petrol and diesel prices in one fortnight. IOC, BPCL and HPCL revise rates on 1st and 16th of