The oil ministry has proposed to raise diesel prices by 1 rupee per month for 10 months.
Mumbai: Shares in Oil & Natural Gas Corp rose as much as 3.6 per cent on January 10 as part of a rally across oil companies after the oil ministry moved a proposal to raise diesel prices to the federal cabinet.
The oil ministry has proposed to raise diesel prices by 1 rupee per month for 10 months and to increase the number of subsidised cylinders.
ONGC shares rose 3.1 per cent as of 0416 GMT. Hindustan Petroleum Corp gained 2 per cent, while Bharat Petroleum Corp rose 2.1 per cent. Indian Oil Corporation was up 3.8 per cent.
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