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Stocks of oil marketing cos bounce back after heavy sell-off in last two trades

Press Trust of India  |  New Delhi 

Shares of 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 soared 8.15 per cent and Indian Corporation jumped 5.63 per cent on BSE.

gained 0.19 per cent.

Shares of marketing companies Friday fell sharply by up to 25 per cent.

firms HPCL, 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 08 2018. 18:55 IST