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State-run oil firms' shares up on diesel price hike hopes

Shares of state-run oil marketing companies gain after a media report said the petroleum ministry was planning to propose a hike of 5 rupees in diesel prices.



Mumbai: Shares of state-run oil marketing companies gain after a media report said the petroleum ministry was planning to propose a hike of 5 rupees in diesel prices.

The ministry is considering the diesel price hike along with a proposal for a new subsidy sharing mechanism, the Business Standard newspaper reported on Thursday, citing unnamed officials.

Shares of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp are trading 2-3 percent higher.

From Zee News

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