Day: May 6, 2020

OMCs tank as govt raises excise duty on petrol, diesel; HPCL, BPCL dip 10%

Shares of oil advertising and marketing businesses (OMCs) were being buying and selling deep in the purple on Wednesday, a working day following the Centre announced one particular of the steepest hikes in responsibilities on petrol and diesel in the current earlier, by raising it by Rs ten and Rs thirteen for each litre, respectively, in a notification issued late on Tuesday.

At 09:23 am, Hindustan Petroleum Corporation (HPCL) was locked in the ten for each cent decreased circuit at Rs 193.twenty apiece on the BSE. Bharat Petroleum Corporation (BPCL), also, was buying and selling in excess of 9 for each cent decreased at Rs 314.eighty five. It strike a very low of Rs 312.15, down ten for each cent in opposition to Tuesday’s close of Rs 346.80. Indian Oil Corporation (IOC) was down nearly six for each cent at Rs 74.twenty. In comparison, the S&P BSE Sensex was buying

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