PSU oil marketing companies (OMCs) like BPCL, HPCL and Indian Oil gained in the range of 0.6-1.4% as these companies effected the hike in petrol price by Rs 1.50 paisa per litre and diesel prices by 45 paise per litre over the weekend.
Following the January 17 phased decontrol of diesel prices, the under-recovery on retail sale of diesel was brought down from Rs 9.60 to Rs 9.15 a litre. However, due to an uptrend in international prices during the period, the under-recovery had gone up to Rs 10.72 a litre, which would come down to Rs 10.27 a litre after the recent rise.
On the volume front, on the NSE, BPCL saw nearly six lakh shares changing hands followed by HPCL at four lakh shares and Indian Oil at nearly three lakh shares in the morning trades.
