BSE Oil & Gas index surges over 3%; ONGC, BPCL, HPCL, GAIL rally up to 7%

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BSE Oil & Gas index surges over 3%; ONGC, BPCL, HPCL, GAIL rally up to 7% - Business Standard

Quick Summary:

In the past six months, the oil & gas index has underperformed the market by falling 18 per cent, as against a 9.5 per cent decline in BSE Sensex.

HPCL share price soared 7 per cent to ₹359, surging 10 per cent in two trading days.

As regards to HPCL, analysts at Elara Capital said the company would have to earn over ₹3,000 per tonne integrated margin to fund its aggressive capex that would help double its profit in the next five years.