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Shares of state-run refiners Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd today surged on better-than-expected Jan-March earnings.
Analysts have cited higher operating margins in fuel sales on the back of lower crude prices.
BPCL shares rose as much as 4.2 per cent to a record high of Rs 852.40, while HPCL gained 4.9 per cent.
BPCL has surged 31 per cent so far this year, while HPCL has climbed 22 per cent, outperforming a 1 per cent gain in the broader NSE index. ($1 = 63.7750 Indian rupees)
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