IOC extends rally on fuel price hike; scrip hits 52-week high

IOC extends rally on fuel price hike; scrip hits 52-week high

03/01/2017 12:05

Shares of state-run Indian Oil Corporation (IOC) rose over 6 per cent, hitting 52-week high, on the Bombay Stock Exchange following hike in petrol and diesel prices with effective from Sunday midnight. State-run companies have raised petrol prices by Rs 1.29 a litre, and of diesel by 97 paise with effective from Sunday midnight.

Boosted by the development, shares of company gained as much as 6.58 per cent to hit intra-day high of Rs 348.60 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company rose 5.22 per cent to Rs 344.55 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,673.71, up 78.26 points, or 0.29 per cent, at 12:10 hours.

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