The stock markets extended gains on Monday as investor sentiment improved following a 6 per cent slump in global oil prices.

Gaining for the third day, the Sensex ended at 35,165.5, up 241 points, or 0.7 per cent. The Nifty rose 83.5 points, or 0.8 per cent, to 10.688.7. Both the indices have rebounded 2.5 per cent in the last three trading sessions. In the preceding week, they had dropped 3.4 per cent each amid a sharp uptick in oil prices and drop in the rupee’s value against the dollar.

New Delhi: Indian Oil Corp. Ltd (IOC) on Tuesday reported a 40% jump in the March 2018 quarter net profit to Rs5,218 crore, compared to a profit Rs3,720.62 crore in the year ago quarter.

IOC’s turnover rose to Rs1.36 trillion in the fourth quarter of 2018 from Rs1.24 trillion in the year-ago period.

Vedanta Cairn, operator of the prolific Barmer field in Rajasthan, bid aggressively, while eight other companies, including state-run ONGC, Oil India, Indian Oil and GAIL (India) also put in their bids for the 55 hydrocarbon blocks offered under the Open Acreage Licensing Policy (OALP), a critical part of the March 2016-launched Hydrocarbon Exploration Licensing Policy (HELP).

Shares of oil marketing companies (OMCs) were trading lower in the range of 2% to 4% on the BSE in early morning trade on Thursday after global crude oil prices hit 3-year high on Wednesday.

Hindustan Petroleum Corporation or HPCL (down 4% at Rs 308), Bharat Petroleum Corporation or BPCL (down 3.7% at Rs 390) and Mangalore Refinery & Petrochemicals or MRPL (down 3% at Rs 104) have hit their respective 52-week lows on the BSE in intra-day trade today.

Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) has signed a long-term agreement with Indian Oil Corporation (IOC) to provide liquefied natural gas (LNG) regasification services at its upcoming LNG import terminal at Dhamra in Odisha.

According to the contract, IOC has booked 3 million tonne per annum (mtpa) regasification capacity spread over 20 years and IOC plans to supply this gas to its refineries in Paradip in Odisha and Haldia in West Bengal, the company said.

Reports that the state-run oil marketing companies (OMCs) will absorb about Re1 a litre of the increase in diesel and petrol prices sent these stocks plummeting on Wednesday.

OMCs are Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Indian Oil Corp. Ltd (IOC).

Shares of oil exploration, equipment and services companies were trading higher on the bourses by up to 7% on Wednesday in otherwise subdued market after on higher crude oil prices.

Oil and Natural Gas Corporation (ONGC), Oil India, Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration and Deep Industries were up in the range of 3% to 7% on the BSE. On comparison, the S&P BSE Sensex was down 0.30% at 33,780 points at 10:07 AM.

NEW DELHI: India's biggest oil firm IOC today said it plans to invest about Rs 1.43 lakh crore to nearly double its oil refining capacity to 150 million tonnes and boost petrochemical production by 2030.

While Indian Oil Corp (IOC) is expanding refining capacity to meet fuel demand, which is expected to nearly double by 2040, it does not want to remain "a refining company alone and is thus venturing into petrochemicals and alternative fuels as well," company's Director (Refineries) B V Rama Gopal told reporters here.

New Delhi: State-owned oil firms will from 1 April supply petrol and diesel meeting stringent Bharat Stage VI emission norms in Delhi NCR.

Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Co. Ltd will supply the BS VI fuel at all their petrol pumps from 1 April, Indian Oil officials said.

New Delhi: In an attempt to boost domestic cooking gas consumption under the marque Pradhan Mantri Ujjwala Yojana (PMUY), or Ujjwala scheme, state-owned oil marketing companies (OMCs) on Friday announced deferment of loan recovery up to six refills.

Under the Ujjwala scheme—a key welfare programme of the centre for poor women—many availing an equated monthly instalment (EMI) facility for meeting the cost of stove and first refills were paying market price for refills till the loan repayment was made.

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