Oil Marketing Companies’ stocks were trading on upper circuit on Thursday afternoon session after the international benchmark for crude oil declined in prices. The NSE Energy index near 2% led by gains in ONGC, Reliance Infra, Bharat Petroleum, Indian Oil Read more
Stocks in oil marketing companies (OMCs) such as Bharat Petroleum Corp (BPCL) Indian Oil Corp (IOC), and Hindustan Petroleum Corp (HPCL) slipped through morning-to-mid-session on Tuesday after reports said the govt may sell its complete stake worth over Rs40000-Cr in Read more
The Sensex and Nifty ended in the red after profit booking in afternoon session. Sensex closed 161 points lower at 38,700-mark with Infosys (+1.44%), M&M (+1.07%) and ONGC (+1.05%) were the top Sensex gainers. The Nifty slipped 61 points to 11,604-mark. Read more
Indian Oil Corporation Limited (IOC) announced in an exchange filing on Monday that it has acquired the Abu Dhabi Onshore block-1. Accordingly, Indian Oil Corporation along with Bharat Petro Resources (BPRL), which is a subsidiary of Bharat Petroleum Corp (BPCL) Read more
The rising crude prices across the globe are expected to have a negative impact on the rupee depreciated rupee, which is likely to have a negative impact on petrol marketing companies.
As per media report, the Oil companies namely Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) and Oil India Limited (OIL) are considering buyback of shares worth Rs. 10,000 crore. These companies are being pressured by the govt as it screams to meet its disinvestment target.