Oil and gas stocks rise after price hike
Mumbai: Oil and gas stocks continued their rally and rose over two percent on the Bombay Stock Exchange after the government's decision to hike fuel prices.
The BSE's Oil and Gas index climbed 2.15 percent or 228 points to touch a high of 10,832.22 points. On June 25, the Government increased fuel prices - petrol by 
3.50 a litre and diesel by 2 per litre, LPG by 35 a cylinder and kerosene by 3 a litre.
State-run ONGC rose over five percent to touch a year-high of 1,330.80 and Oil India also touched its 52-week high of 1,557.65, up 12.67 percent. Other, oil and gas stocks, which were up on the bourse, include Cairn India up 1.38 percent at 315.90, Essar Oil up 4.46 percent at 143.90.
The country's most valued firm Reliance Industries Ltd was trading up 1.31 percent at 1,077.15 and RNRL 00.91 percent at 66.55. BPCL was quoting at 647, up 4.13 percent, HPCL at 430.65, up 7.38 percent from the previous close, while Aban Offshore was up 1.61 percent at 764.80. Meanwhile, Gail India, which touched its year-high of 516.85 on Friday, was quoting down 1.41 percent at 475.95.
Source: PTI
3.50 a litre and diesel by 2 per litre, LPG by 35 a cylinder and kerosene by 3 a litre.
State-run ONGC rose over five percent to touch a year-high of 1,330.80 and Oil India also touched its 52-week high of 1,557.65, up 12.67 percent. Other, oil and gas stocks, which were up on the bourse, include Cairn India up 1.38 percent at 315.90, Essar Oil up 4.46 percent at 143.90.
The country's most valued firm Reliance Industries Ltd was trading up 1.31 percent at 1,077.15 and RNRL 00.91 percent at 66.55. BPCL was quoting at 647, up 4.13 percent, HPCL at 430.65, up 7.38 percent from the previous close, while Aban Offshore was up 1.61 percent at 764.80. Meanwhile, Gail India, which touched its year-high of 516.85 on Friday, was quoting down 1.41 percent at 475.95.