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Oil marketing companies gain on plans to set up mega refinery

IOC, BPCL and HPCL plan to set up a mega refinery Ratnagiri in coastal Maharashtra

IOC, BPCL, HPCL eye Rs 60k-cr refinery

SI Reporter Mumbai
State-owned oil marketing companies viz Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) have firmed up 0.5%-1% each on the Bombay Stock Exchange on reports that they might jointly set up a mega refinery at Ratnagiri in coastal Maharashtra.

According to sources, IOC could possibly take majority stake in the refinery which would have a capacity of 30 million tonnes per annum and the cost of the project is estimated at Rs 60,000 crore.

At 10:15am,over 250,000 shares of BPCL , 190,000 shares of HPCL and 108000 shares of IOC were traded on both the stock exchanges.
 




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First Published: Dec 29 2015 | 10:07 AM IST

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