OMC stocks hit 52-week low; HPCL, BPCL fall over 20%

Excise duty on petrol and diesel is cut by Rs1.5/lt each and the oil marketing companies (OMCs) have been asked to absorb Rs1/lt.
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Shares of all major oil marketing companies (OMC) hit 52-week low and extended their losses in today’s session as Government on Thursday announced the much awaited cut on excise duty of petrol and diesel, which the market had kept an eye on since the rally of crude prices started.

Excise duty on petrol and diesel is cut by Rs1.5/lt each and the oil marketing companies (OMCs) have been asked to absorb Rs1/lt. The overall cut in prices of petrol and diesel will be Rs2.5/lt each. 

Center has also asked states to take a similar cut in VAT to keep the petrol and diesel prices under control.

Meanwhile, shares of Hindustan Petroleum Corporation Ltd are currently trading at Rs173 down by Rs47.6 or 21.58% from its previous closing of Rs220.60 on the BSE.

The scrip opened at Rs198.55 and has touched a high and low of Rs198.55 and Rs165.45 respectively. The BSE group 'A' stock of face value Rs10 has touched a 52-week high of Rs483.75 on 26-Oct-2017 and a 52-week low of Rs195 on 04-Oct-2018. Last one week high and low of the scrip stood at Rs257 and Rs195 respectively.

Bharat Petroleum Corporation Ltd is currently trading at Rs267.40 down by Rs68.95 or 20.5% from its previous closing of Rs336.35 on the BSE. The BSE group 'A' stock of face value Rs10 has touched a 52-week high of Rs550 on 30-Oct-2017 and a 52-week low of Rs304 on 04-Oct-2018.

Indian Oil Corporation Ltd is currently trading at Rs118.15 down by Rs22.7 or 16.12% from its previous closing of Rs140.85 on the BSE. The BSE group 'A' stock of face value Rs10 has touched a 52-week high of Rs221 on 27-Oct-2017 and a 52-week low of Rs128.50 on 04-Oct-2018.

Hindustan Petroleum Corporation Ltd is currently trading at Rs173.35 down by Rs47.25 or 21.42% from its previous closing of Rs220.60 on the BSE. The BSE group 'A' stock of face value Rs10 has touched a 52 week high of Rs483.75 on 26-Oct-2017 and a 52 week low of Rs195 on 04-Oct-2018.

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