IOC, BPCL and HPCL tank up to 8% despite surge in petrol, diesel prices
Oil explorers such as ONGC and OIL India also dipped up to 3 per cent after Moody’s Investors Service said they face increasing risk that govt will require them to share fuel-subsidy burden as oil prices rise.
HPCL and BPCL were the leading losers on the Nifty index. Image source: Reuters