Shares of state owned oil and gas companies are trading firm on reports that the government will take the price hike decision after UPA Chairperson Sonia Gandhi returns from United States (US).
Oil and Natural Gas Corporation (ONGC), Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India are trading higher by 1-4% on BSE.
A decision on raising diesel prices by Rs 3-5 per litre, kerosene by Rs 2 and LPG by up to Rs 50 per cylinder will be taken after UPA Chairperson Sonia Gandhi returns from US, the PTI reports suggests quoting top government officials.
On Sonia Gandhi return in next week, the Congress core group can meet to deliberate on the price hike that has become essential in view of over 20% dip in rupee value against US dollar this fiscal, making oil imports costlier, added report.
Among the individual stocks, ONGC has surged 4.4% to Rs 281 on BSE. The stock has rallied 12% in past three trading sessions.
Oil and Natural Gas Corporation (ONGC), Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India are trading higher by 1-4% on BSE.
A decision on raising diesel prices by Rs 3-5 per litre, kerosene by Rs 2 and LPG by up to Rs 50 per cylinder will be taken after UPA Chairperson Sonia Gandhi returns from US, the PTI reports suggests quoting top government officials.
On Sonia Gandhi return in next week, the Congress core group can meet to deliberate on the price hike that has become essential in view of over 20% dip in rupee value against US dollar this fiscal, making oil imports costlier, added report.
Among the individual stocks, ONGC has surged 4.4% to Rs 281 on BSE. The stock has rallied 12% in past three trading sessions.
