Gas explorers slump after govt defers gas price hike

Tags: Companies
Shares in oil and gas explorers slumped on Thursday after the government deferred a decision on Wednesday to raise prices of locally produced gas for next three months, saying the matter requires more discussion.

Reliance Industries fell 3 percent, Oil and Natural Gas Corp lost 6.8 percent while Oil India Ltd fell 4.6 percent.

However, analysts say the deferment of gas price hike is near-term negative but it does not change the direction of structural reforms in the oil and gas sector.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Neither secular nor socialist, India at 66 is back where it began

    The republic has entered its 66th year but the nation is more than just another year older.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Building great cities (and nations)

Fifteen to twenty years’ span is the time when humans ...

Kuruvilla Pandikattu SJ

Defining success differently

Researchers spent four decades studying a group of mathematically talented ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture