Shares of two PSU OMCs rose 0.5% to 1.15% at 13:05 IST on BSE after hike in price of petrol by 60 paise and diesel by 50 paise per litre effective midnight Friday, 28 February 2014, amid rising crude oil prices & depreciation of rupee against dollar.
HPCL (up 1.15% at Rs 267.50) and Indian Oil Corporation (up 0.5% at Rs 249.35) edged higher.
Shares of BPCL were down 0.54% at Rs 375.60.
Meanwhile, the S&P BSE Sensex was down 108.18 points or 0.51% at 21,011.94.
BPCL had outperformed the market over the past one month till 28 February 2014, advancing 10.38% compared with the Sensex's 2.11% rise. The scrip had also outperformed the market in past one quarter, jumping 13.07% as against Sensex's 2.85% rise.
HPCL had outperformed the market over the past one month till 28 February 2014, advancing 16.27% compared with the Sensex's 2.11% rise. The scrip had also outperformed the market in past one quarter, jumping 27.17% as against Sensex's 2.85% rise.
Indian Oil Corporation (IOC) had outperformed the market over the past one month till 28 February 2014, advancing 11.01% compared with the Sensex's 2.11% rise. The scrip had also outperformed the market in past one quarter, jumping 23.96% as against Sensex's 2.85% rise.
The latest hike in price of petrol and diesel is exclusive of local taxes.
Meanwhile, the price of jet fuel or aviation turbine fuel (ATF) has been hiked by 1%. The ATF price at Delhi was hiked by Rs 753.34 per kilolitre (kl) or 1% to Rs 74,825.54 per kl.
Separately, the price of non-subsidized cooking gas (LPG), which customers buy after using up their quota of 12 subsidised cylinders, was cut by Rs 53.5 per cylinder, the second straight reduction in rates since February. The 14.2-kg cooking gas cylinder that consumers buy beyond their entitled 12 cylinders at subsidised rates, will now cost Rs 1,080.50, down from Rs 1,134, in Delhi.
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