Saturday, June 25, 2011

Will OMC's share price move up / down...?



yesterday government announced diesel, kerosene and lpg rate hike,...    
Will  OMC's share price move up /down due to this hike ?
Please post your views at comments ...
A panel of Indian ministers, led by Finance Minister Pranab Mukherjee, allowed refiners including Indian Oil Corp., the nation’s biggest, to increase diesel prices by 3 rupees (7 cents) a liter, kerosene by 2 rupees a liter and cooking gas by 50 rupees for every 14.2 kilogram bottle, Oil Minister S. Jaipal Reddy said in New Delhi yesterday. The tariffs don’t take into account the taxes imposed by state governments, he said.
http://www.bloomberg.com/news/2011-06-24/india-raises-diesel-prices-first-time-in-a-year-to-cut-subsidies-deficit.html
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