Oil companies’ stocks up,beat meltdown

State-run oil marketing companies' stocks extended gains.

State-run oil marketing companies’ stocks extended gains as a sharp fall in international crude prices spurred buying interest,several dealers said.

US crude oil futures slumped more than 6 percent to an eight-month low at the close on Monday,battered by a sell-off spurred by the downgrade of the U.S. credit rating.

At 9.58 a.m.,shares in Indian Oil Corp.,Bharat Petroleum Corp.,and Hindustan Petroleum Corp. were up 1-2.55 percent in a Mumbai market that was down 1.67 percent.

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In run for Vice-President, Radhakrishnan in pole position as numbers tilt in NDA favour

Political Pulse1 hr ago

While the numbers seem to be stacked in favour of the ruling BJP-led NDA in the Vice-Presidential election scheduled for Tuesday, in which the NDA’s candidate C P Radhakrishnan is pitted against the Opposition INDIA alliance’s nominee Justice (retired) P Sudershan Reddy, the decision of the BJD and the BRS to abstain from voting may further boost Radhakrishnan’s prospects.

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