Key Points
The share prices of Oil Marketing companies as Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation Ltd (IOCL) saw smart gains on Tuesday with decline in Crude oil prices..
While Hindustan Petroleum Corporation share price with gains of more than 5% scaled 52 week highs in morning trades, Indian Oil Corporation and Bharat petroleum corporation stock price also gained up to 4.0% on the BSE..
The Brent Crude prices that had risen close to $100 a barrel in September, dipped belwo $80 a barrel levels..
Hindustan Petroleum Corporation that derives higher contributions from retail sales petroleum product in its portfolio saw maximum rise in share prices..
For other OMCs as Indian Oil Corporation and Bharat Petroleum Corporation while the declining crude prices improve the marketing margin outlook , the positive is also accruing from improving refining margins..
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