Equity Alert: Oil retailers dn; govt relief package verdict awaited

[K.Karthik Raja]

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Equity Alert: Oil retailers dn; govt relief package verdict awaited
MUMBAI--2:53PM--Shares of oil retailers were down in line with the
broad
market and as crude oil prices continued to trade above $130 a barrel,
dealers said.
Hindustan Petroleum Corp and Indian Oil Corp were down 1% each,
while
Bharat Petroleum Corp fell 2%.
However, analysts said the stocks are likely to find support in
the
near-term on hope of some relief measures from government this week to
cushion the companies from spiralling crude oil prices.
"A duty rejig is a more plausible option for government, along
with a
partial rate hike of 2 rupees a litre for diesel and about 4 rupees a
litre
for petrol,"
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