The oil marketing major, Indian Oil Corporation was contributing most to the index gains and was trading up by nearly 4% at Rs 384.10 per share as at 1108 hours. The S&P BSE OIL & GAS index was trading at 14,377.41 level, up by 130.60 points or 0.92%.
As reported by a leading business daily, the government has asked the state oil companies to increase prices of subsidised kerosene by 25 paise every fortnight till the subsidy on the fuel is eliminated completely or till further orders.
Among others, Hindustan Petroleum Corporation was trading up by 3.35% at Rs 396.95 per share, Bharat Petroleum Corporation was trading up by 1.03% at Rs 490.50 per share, GAIL (India) was trading up by 0.77% at Rs 372.05 per share, and Petronet LNG was trading up by 0.23% at Rs 214.10 per share.
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