MRPL, CPCL, OIL, ONGC, IOC, RIL fall up to 10%; here’s why
Shares of CPCL and MRPL tumbled nearly 10%, while ONGC, OIL, Reliance, IOC, Gujarat Gas, and Indraprastha Gas dropped up to 5% due to sharp decline in international crude prices.
Shares of CPCL and MRPL tumbled nearly 10%, while ONGC, OIL, Reliance, IOC, Gujarat Gas, and Indraprastha Gas dropped up to 5% due to sharp decline in international crude prices.
Shares of oil companies were under stress as international crude prices fell about 5% to hit a three-week low on Friday.
Shares of CPCL and MRPL hit their respective 52-week highs, driven by strong rally in the last three sessions.
This oil stock surged as much as 230% this year, with share price hitting an over four-year high of ₹343.60 in intraday trade on Friday.