Oil marketing companies (OMCs) are under pressure. CLSA sees the Budget to be negative for refiners as every 1 percent increase in duty will pull down gross refining margins by USD 0.3 per barrel. Both HPCL and BPCL are down 1-2 percent.
Aarti Industries has gained over 9 percent intraday Wednesday and has rallied 191 percent on a one-year basis from the levels of around Rs 102 to Rs 300. In an interview to CNBC-TV18, Rajendra Gogri, Chairman & Managing Director, Aarti Industries, discusses on the companys outlook.
, telling Media overnight there was no emergency meeting planned. Brent crude futures dropped to 58.56 a barrel by 8:00 am GMT on Tuesday and US crude was back at USD 48.97 a barrel after climbing above USD