Crude oil prices plunged to six-month lows in international markets
NEW DELHI, Mar 6 (PTI): Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments.
Traders said the OMC stocks gained with crude oil prices hovering below USD 70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
The scrip of Hindustan Petroleum Corporation climbed 4.85 per cent to Rs 342.30 apiece, Indian Oil jumped 3.68 per cent to Rs 126.75 and Bharat Petroleum Corporation advanced 3.24 per cent to Rs 264.20 per piece on the BSE.
