OMCs recover off lows on OPEC’s bullish demand view; IOC, HPCL hit record highs
Shares of Indian oil marketing companies (OMCs) recovered off lows and scored record-high levels on Thursday, January 18, a day after the the Organistation of Petroleum Exporting Countries (OPEC) provided a bullish demand growth forecast for oil markets, despite the ongoing geopolitical conflicts.
Shares of Indian Oil Corporation (IOC) hit its fresh 52-week high of ₹145.60 apiece on the BSE. Similarly, shares of Hindustan Petroleum Corporation Limited (HPCL) surged significantly and were locked at five per cent upper circuit to hit a 52-week high mark of ₹461.80 apiece on the BSE.
Also, shares of Bharat Petroleum Corporation Limited (BPCL) rose around three per cent to hit an intraday high of ₹480.75 against a 52-week high of ₹482.05 apiece on the BSE.
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Published: 18 Jan 2024, 08:53 PM IST
