BPCL, HPCL, IOCL slip 6%; Jet Airways hits 52-week low as oil prices rise

At 10:50 am; the S&P BSE Oil & Gas index plunged 2.6% or 364 points at 13,810 points, as compared to 0.01% decline in the S&P BSE Sensex.

 

 

Stock Market News » Shares of oil marketing companies (OMCs) such as Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) have slipped up to 6% on the BSE in intra-day trade as oil prices rise amid supply disruptions.

At 10:50 am; the S&P BSE Oil & Gas index plunged 2.6% or 364 points at 13,810 points, as compared to 0.01% decline in the S&P BSE Sensex.

Among airlines companies, Jet Airways (India) hit a 52-week low of Rs 366, down 3% on the BSE in intra-day trade, while InterGlobe Aviation (down 2% at Rs 1,143) and SpiceJet (down 1.5% at Rs 112) too trading lower on the BSE.

Oil prices rose on Wednesday following supply disruptions in Libya and Canada and after US officials told oil importers to stop buying Iranian crude from November, the Reuters report suggested.

ABOUT Jet Airways (India) LTD.

Jet Airways (India) Limited (JAIL) was incorporated in 1st April of the year 1992 as a private company with limited liability and it commenced operations as an Air Taxi Operator in 5th May of the year 1993 with a fleet of four leased Boeing 737 aircraft and also having ISO 9001 certification for its in-flight services. The Company became the first airline in India to operate the Boeing 737-400 Aircraft in April of the year 1994 and it operates one of the youngest aircraft fleets in the world today. The Company was granted the scheduled airline status in 14th January of the year 1995. Jet Airways became a deemed public company in 1st July of the year 1996.

Jet Airways was reconverted into a private company as at 19th January 2001. The Company bagged the prestigious Air Transport World Award 2001 for Market Development and the TTG Travel Award 2002 for Best Domestic Airline. In the year 2004, the company made tie up with the South African Airways. During the year 2005, Jet Airways Limited has filed its draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to enter the capital market with its initial public offering for used to fund its international expansion plans. Jet Airways became a public company in 28th December of the year 2004.

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