Oil companies gain after RBI opens forex swap window
Aug 29 2013
The RBI announced late on Wednesday a special window "with immediate effect" to sell dollars through a designated bank to Indian Oil Corp Ltd, Hindustan Petroleum Corp and Bharat Petroleum Corp "until further notice".
IOC is up 1.1 percent, HPCL gains 1.2 percent while BPCL is up 2 percent.
Expectations of a hike in diesel prices after parliament's monsoon session ends on September 6 are also seen helping shares.
Oil and Natural Gas Corp Ltd also gains 2.1 percent.