Indian Oil, HPCL & BPCL shares rise up to 5% in early deals; here's why
Shares of BPCL gained 4.86%, the most in early deals, touching an intra day high of Rs 298.45 against the previous close of Rs 284.60.
- Mar 27, 2026,
- Updated Mar 27, 2026 9:39 AM IST
Shares of oil marketing companies (OMCs) such as Indian Oil, HPCL and BPCL rose up to 5% in early deals today after the government cut the special additional excise duties on petrol and diesel to Rs 3 litre and zero, respectively.
Earlier, special additional excise duties on petrol stood at Rs 13 per litre and on petrol at Rs 10 per litre.
Shares of BPCL gained 4.86%, the most in early deals, touching an intra day high of Rs 298.45 against the previous close of Rs 284.60. Market cap of the firm rose to Rs 1.22 lakh crore.
Shares of another OMC Indian Oil rose 2.48% to Rs 144.15 against the previous close of Rs 140.65. Market cap of the OMC stood at Rs 1.99 lakh crore.
HPCL shares too rose 4% to Rs 357.60 against the previous clsoe of Rs 344.20. Market cap of the firm stood at Rs 72,654 crore.
Relief of duty cuts on petrol pumps will not be available since these excise duty cuts are directed at OMCs to lower their underrecoveries arising from the rise in crude oil prices above $100 per barrel due to the ongoing US-Iran war. This will reduce pressure on OMCs to raise petrol, diesel prices. Currently, brent crude prices are trading at $100.85 per barrel.
Shares of oil marketing companies (OMCs) such as Indian Oil, HPCL and BPCL rose up to 5% in early deals today after the government cut the special additional excise duties on petrol and diesel to Rs 3 litre and zero, respectively.
Earlier, special additional excise duties on petrol stood at Rs 13 per litre and on petrol at Rs 10 per litre.
Shares of BPCL gained 4.86%, the most in early deals, touching an intra day high of Rs 298.45 against the previous close of Rs 284.60. Market cap of the firm rose to Rs 1.22 lakh crore.
Shares of another OMC Indian Oil rose 2.48% to Rs 144.15 against the previous close of Rs 140.65. Market cap of the OMC stood at Rs 1.99 lakh crore.
HPCL shares too rose 4% to Rs 357.60 against the previous clsoe of Rs 344.20. Market cap of the firm stood at Rs 72,654 crore.
Relief of duty cuts on petrol pumps will not be available since these excise duty cuts are directed at OMCs to lower their underrecoveries arising from the rise in crude oil prices above $100 per barrel due to the ongoing US-Iran war. This will reduce pressure on OMCs to raise petrol, diesel prices. Currently, brent crude prices are trading at $100.85 per barrel.