Rising with margins

INVESTING INSIGHT

The stocks of companies engaged in oil refining and production have consistently risen in the last three months on the Bombay Stock Exchange (BSE).

The share price of Bongaigaon Refinery rose from Rs 71.59 on February 5, to today's close of Rs 79.09, up 10.48 per cent on the Bombay Stock exchange (BSE).

During the same period the stock price of Bharat Petroleum increased from Rs 439 to Rs 466.6, up 6.29 per cent.

Chennai Petro, a refining company with no exposure in oil retailing, gained from Rs 85.45 to Rs 157,85 witnessing the highest percentage gain of 84.73 per cent.

The stocks of Indian Oil Corporation, which owns refineries and the largest number of retail outlets in the country, rose from from Rs 436.45 to Rs 516.1, up 4.84 per cent.

Kochi Refineries, another refinery-only enterprise, gained from Rs 158.69 to Rs 200.95, up 26.63 per cent.

MRPL moved up 6.98 per cent from Rs 53 to Rs 56.7.

Oil and Natural Gas Corporation, the exploration company which now owns MRPL and has oil retailing plans in the pipeline, strengthened as well from Rs 715.1 to Rs 841. 5, a jump of 17.68 per cent.

The share price of Hindustan Petroleum, refining and marketing unit, rose from Rs 430.8 to 451.65, up 4.84 per cent.