Thursday, October 16, 2014

Oil marketing companies' shares rally

Equity Tips
Oil retailers IOC, BPCL and HPCL rallied 1-2 percent as government today said over-recovery on diesel for October 16-31 is expected to be at Rs 3.56 per litre, increased from Rs 1.9 per litre in previous fortnight (October 1-15). It means these companies are making gains of Rs 3.56 per litre.

OMCs' under-recovery on LPG and kerosene is expected to be at Rs 139 crore per day during the same period, declined compared to under-recovery of Rs 156 crore and Rs 190 crore in previous two fortnights, respectively.

The government said under-recovery on kerosene for Oct 16-31 is seen at Rs 31.22/litre and Rs 404.64 per cylinder for LPG.

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