Shares of 3 PSUs rise 6% after hike in petrol, diesel prices

Petrol price was hiked yesterday by Rs 3.07 a litre, reversing its 3-month declining trend

Shares of three public sector oil marketing companies (OMCs) rose up to six per cent after Indian Oil Corporation announced an increase in petrol and diesel prices.

On BSE, BPCL went up by 5.91% to Rs 864.60, HPCL gained 2.40% to Rs 751.95 and IOC climbed 3.89% to Rs 403.60.

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Similar movement was seen on NSE with BPCL gaining 5.7%. HPCL and IOC surged 3.56% and 3.32%, respectively.

Petrol price was hiked Wednesday by Rs 3.07 a litre, reversing its 3-month declining trend, while diesel rates went up by Rs 1.90 per litre.

Petrol in Delhi will cost Rs 59.68 per litre from Thursday as against Rs 56.61, while a litre of diesel will cost Rs 48.33 compared with Rs 46.43 earlier.