The shares of oil marketing companies including HPCL, BPCL and IOC declined upto 3% on Friday after lower-than-expected increase in petrol and diesel rates. The Centre has upped prices by up to Rs 3 per litre, effective immediately, amid prolonged disruption across the Strait of Hormuz.
HPCL was the biggest laggard, down 3% to its day's low of Rs 376, followed by a 2% drop in BPCL share price to Rs 289 on the NSE. City gas distribution companies such as Mahanagar Gas, Indraprashta Gas, and Gujarat also edged lower, albeit marginally.
