HPCL recorded a new 52-week high of Rs 330. The stock finally ended 14% higher at Rs 323. The counter witnessed heavy trades of 1.21 million shares.
BPCL finally closed with a gain of 10% at Rs 445. Around 515,744 shares were traded on the BSE today.
IOC touched a new 52-week high of Rs 547. The stock finally closed up 14.5% at Rs 529. The counter saw hefty trades of 402,666 shares on the BSE today.
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(Updated at 1047 hrs)
Petroleum ministry's proposal to free retail prices of petroleum products have boosted share prices of oil marketing companies (OMCs). HPCL, BPCL and IOC have zoomed to new 52-week highs on the BSE backed by solid gains.
HPCL soared 15% to a new 52-week high of Rs 325. The stock is now up 12% at Rs 316. Heavy trades have taken place at the counter - 195,154 shares have been traded so far while the two-week daily trade average is 180,860 shares.
BPCL has zoomed 11.5% to a new 52-week high of Rs 450. The counter has witnessed comparatively heavy trades of 60,652 as against the two-week daily traded average of 76,598.
Indian Oil Corporation (IOC) surged 10% to a new 52-week high of Rs 509 within half an hour of trade. The stock is currently up 9% at Rs 501. Hefty volumes of 37,210 shares, as against a two-week daily trade average of 40,168 shares have been clocked on the counter already.
