Thursday, January 01, 2026 | 11:15 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

State-owned oil companies gain; strong rupee eases crude, dollar debt worries

Image

Reuters

Reuters Market Eye - Shares in state-owned oil retailers gain as a rally in the rupee against the dollar was seen easing concerns about higher cost of crude oil imports and dollar debt, dealers say.

Hindustan Petroleum Corp Ltd gains 3.8 percent, Bharat Petroleum Corporation Ltd surges 6.1 percent, while Indian Oil Corp is up 1.8 percent.

The rupee surged as much as 2.8 percent on Thursday, hitting its highest in a month, as the U.S. Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the local central bank in its policy making.

 

(Reporting by Abhishek Vishnoi)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 19 2013 | 2:12 PM IST

Explore News