Shares of oil marketing, aviation companies tank up to 6 per cent
Shares of oil marketing and aviation companies tumbled up to 6.3 per cent on Monday after the international benchmark Brent crude again breached the $71-mark.
The scrip of Hindustan Petroleum Corporation Ltd tanked 6.23 per cent, Indian Oil Corporation Ltd 4.59 per cent and Bharat Petroleum Corporation Ltd 1.87 per cent on BSE.
Also Read | Rafale Deal: CCS approval was taken, due process followed, government tells petitioners
Among aviation companies, shares of Jet Airways (India) Ltd tumbled 5.96 per cent, InterGlobe Aviation Ltd 4.32 per cent and SpiceJet 3.53 per cent.
The benchmark Brent crude snapped its four-day losing streak and rose 2.09 per cent to 71.62 per barrel after Saudi Arabia, the world’s top crude exporter, said Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding prices.
For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.
More from Business
Take Control Of Your Financial Goals: Apply For A Personal Loan Now
Nihal Dangoria: An Indian Entrepreneur Making a Bright Future For The Real Estate Industry
Data breach incident at Extramarks highlights growing cybersecurity concerns in Indian companies
How is ePayLater empowering retailers across the country
Follow your heart, but don't ignore your mind When it comes to investing