By Dipti Sharma Oct 5, 2021 10:21:58 AM IST (Published)
Shares of oil companies surged in trade on Tuesday following the overnight climb in crude oil prices. Rising brent crude oil price should improve realisation and in turn drive earnings growth for upstream oil companies.
Shares of oil companies surged in trade on Tuesday following the overnight climb in crude oil prices.
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At 9:43 am, shares of Oil & Natural Gas Corporation (ONGC) jumped 4.7 percent to Rs 154.60 and those of Oil India Ltd (OIL) gained 2.8 percent to Rs 248.4.
Bharat Petroleum Corporation shares were up 0.6 percent at Rs 438.35 and Indian Oil Corporation’s stock rose over 2 percent to Rs 129.