Indian Oil, Hindustan Petroleum, Bharat Petroleum shares up on diesel price hike hopes

Reuters Posted online: Thursday, Dec 26, 2013 at 0000 hrs
Mumbai : Shares of state-run oil marketing companies gain after a media report said the petroleum ministry was planning to propose a hike of 5 rupees in diesel prices.

The ministry is considering the diesel price hike along with a proposal for a new subsidy sharing mechanism, a business daily reported on Thursday, citing unnamed officials.

Shares of Indian Oil Corp, Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd are trading 2-3 per cent higher.