Oil PSU stocks gain
30 August 2013
The RBI's announcement of a special window to sell dollars through a designated bank to Indian Oil Corp Ltd, Hindustan Petroleum Corp and Bharat Petroleum Corp lifted stocks of oil PSUs on the market.
Shares of IOC were up 1.1 per cent while HPCL gained 1.2 per cent and BPCL was up 2 per cent. Shares of Oil and Natural Gas Corp Ltd (ONGC) also gained 2.1 per cent.
Expectations of a hike in diesel prices after Parliament's monsoon session ending on 6 September also helped shares move up.