OMCs See Share Rise as Brent Crude Prices Fall for Fourth Day

State-owned oil companies Indian Oil, HPCL, and BPCL have seen their shares rise in recent days following a drop in Brent crude prices. The price of Brent crude has fallen for the fourth consecutive day, which has increased the profit margins of these companies.

The three state-run OMCs saw their stock prices increase: BPCL's shares gained 3% to Rs 315.75 over the last four days, while Indian Oil's stock rose by 2.68% to Rs 137.70 during the same period. HPCL's shares also increased by 2.5%, reaching a high of Rs 359.55 in the current session.

The lower price of crude oil has led to a higher profit margin for these companies, as they sell refined products at fixed prices while buying crude at market rates. This is evident from their accumulated loss of Rs 74,781 crore in the April-June quarter, according to official data from the oil ministry.