IOC hikes non-subsidised LPG cylinder prices, stock down nearly 2%


IOC hikes non-subsidised LPG cylinder prices, stock down nearly 2%

Indian Oil Corporation on Wednesday has increased the non-subsidised LPG cylinder prices by Rs 86 for its 14.2 kg cylinder. Soon after the announcement, the shares of the company slipped in red. The stock is trading down by nearly 2% in Wednesday’s trade. The stock has delivered 96% in a period of one year and has outperformed the BSE Sensex and BSE Oil & Gas indices over the same time span.

The stock of IOC witnessed a 4.6% increase in the open interest. However, a short built-up position in IOC was seen as the share price declined by 1.2%.

Indian Oil Corporation Limited is engaged in the refining business. The company’s segments include sale of petroleum products, sale of petrochemicals and other businesses. Read More…

Credit By : Indiainfoline.com

One Response to "IOC hikes non-subsidised LPG cylinder prices, stock down nearly 2%"

  1. asok   March 1, 2017 at 10:51 pm

    The govt is looting public by abnormally raising the price of Gas Cylinders. Modi govt is playing a dual role by giving publicity that this govt is working for the public but actually putting enormous burden by increasing taxes and prices of essential commodities like petroleum products when prices of these materials are coming down in international markets but these decreases are absorbed by petroleum countries and govt by increasing ED. While the benefits are not passed to poor of the country.

    Reply

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