Indian Oil Refiners Up 1-5% As Global Crude Price Declines


Indian Oil Refiners Up 1-5% As Global Crude Price Declines
Shares of state-owned oil refiners rose 1-5% as prices of crude oil in the global markets fell on Monday. The prices fell after latest data showed that crude oil output in the US is expected to rise this year.

Indian oil refiners are major importers of crude oil and a fall in global crude oil prices supports sentiment for the sector.

Hindustan Petroleum Corporation Ltd (HPCL) is currently trading at Rs383.45, up Rs17, or 4.64%, from its previous close of Rs366.45 on the BSE. The scrip opened at Rs366.10 and has touched a high and low of Rs385.35 and Rs366.10, respectively. So far, total 38,40,729 HPCL shares have traded hands on both indexes. The current market cap of the company is Rs55,840.48cr.
Bharat Petroleum Corporation Ltd (BPCL) is currently trading at Rs462.60, up Rs15.75, or 3.52%, from its previous close of Rs446.85 on the BSE. Read More…

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