Under-recovery concerns put pressure on Oil India, BPCL shares

Mar 20 2014, 13:47 IST
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The OIL India share was trading 0.27% lower at Rs 485.50 at 1.00 pm IST on the BSE. (AP) The OIL India share was trading 0.27% lower at Rs 485.50 at 1.00 pm IST on the BSE. (AP)
SummaryThe OIL India share was trading 0.27% lower at Rs 485.50 at 1.00 pm IST on the BSE.

Shares of oil marketing companies (OMCs) slipped 1-3% intraday on reports that finance ministry wants the OMCs to absorb higher share of the under-recoveries.

Live: BSE Sensex

As per reports, Oil India, BPCL and HPCL will have to absorb Rs 5,000 crore of under-recoveries in FY14 as against Rs 900 crore in FY13.

The OIL India share was trading 0.27% lower at Rs 485.50 at 1.00 pm IST on the BSE. The BPCL scrip was trading 3.31% lower at Rs 433.50, while the HPCL scrip was trading 2.88% lower at Rs 283.30.

Live: BSE Sensex

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