Wednesday, March 05, 2025 | 07:38 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Indian Oil perks up on falling oil prices

DALAL STREET SPIKES

Image

BS Reporter Mumbai

Indian Oil Corporation (IOC) closed up 4.27 per cent at Rs 405.15 a share as a sharp fall in crude oil prices is likely to help reduce underrecoveries. On October 16, the US crude for November 2008 delivery settled $4.69 lower at $69.85 a barrel, its 15-month low. It rose by $3.12 to $72.97 today. A total of 1.57 lakh shares changed hands at the Bombay Stock Exchange.

The shares soared to a high of Rs 418 and a low of Rs 388.3 in intra-day trades. Crude oil prices have steadily declined from a record high of $147.27 hit on July 11 on demand worries amid global slowdown.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 18 2008 | 12:00 AM IST

Explore News