Strong Rally in Oil & Gas Stocks: Supreme Petrochem Tops with 9% Gain; HPCL, BPCL, Indian Oil & Others Also Up

Shares in India's crude oil and refinery sector saw strong gains on Monday, led by Supreme Petrochem, Mangalore Refinery, HPCL, BPCL and IOCL. Among them, Bharat Petroleum Corporation Limited (BPCL) climbed 4%, Hindustan Petroleum Corporation Limited (HPCL) advanced 4%, and Indian Oil Corporation (IOC) rose 3%. The rally lifted the oil & gas index (NIFOILGAS) and the public sector enterprises index (NIFTYPSE) each by more than 1%.

Nifty Oil and Gas Index Today: Top Gainers Today

As of 1:18 PM on September 29, the Nifty Oil & Gas index was trading at 11,287.45, up by 154.95 points or 1.39%.

Supreme Petrochem Share Price Today

Supreme Petrochem Ltd traded at Rs 947.65 as of 1:19 PM on 29th September, showing a significant gain of Rs 77.55, or 8.91%, for the day. The stock opened at Rs 870.00 and reached an intraday high of Rs 979.00, while the low for the day was Rs 869.95.

With today's high, the stock also touched its 52-week high of Rs 979.00, marking a strong upward movement. In contrast, the 52-week low for Supreme Petrochem stands at Rs 518.05,

Mangalore Refinery Share Price Today

As of 1:22 PM on 29th September, shares of Mangalore Refinery and Petrochemicals Ltd were trading at Rs 133.27, marking an increase of Rs 5.88 or 4.62% for the day. The stock began the session at Rs 128.19, climbed to a high of Rs 137.60, and dipped to a low of Rs 127.56 during intraday trading. Over the past year, the stock has ranged between a 52-week low of Rs 98.92 and a 52-week high of Rs 186.45.

HPCL Share Price Today

At 1:23 PM on 29th September, Hindustan Petroleum Corporation Ltd shares were priced at Rs 441.30, up by Rs 19.05, or 4.51%, compared to the previous trading session. The stock opened the day at Rs 422.30, reached a high of Rs 442.50, and recorded a low of Rs 421.50 during the day's trading. Looking at the stock's performance over the last 52 weeks, it has traded between a low of Rs 287.55 and a high of Rs 455.20.

BPCL Share Price Today

As of 1:26 PM on 29th September, BPCL was trading at Rs 337.00, gaining Rs 12.65 or 3.90% for the day. The stock opened at Rs 326.65, reached a high of Rs 338.50, and touched a low of Rs 325.50 during the trading session. Over the past year, the stock has fluctuated between a 52-week low of Rs 234.01 and a 52-week high of Rs 376.00.

Indian Oil Share Price Today

As of 1:27 PM on 29th September, Indian Oil Corporation Ltd was trading at Rs 149.19, up by Rs 4.15 or 2.86% for the day. The stock opened at Rs 145.04, reached an intraday high of Rs 149.95, and recorded a low of Rs 145.04 during the session. Over the past 52 weeks, the stock has ranged between a low of Rs 110.72 and a high of Rs 182.46.

Should You Buy These Oil and Gas Stocks? Check Top Brokerages' Recommendation

HSBC reaffirmed its "buy" recommendations for HPCL, BPCL, and IOC. The bank stated that strong government statements suggest minimal intervention in pricing decisions, enabling oil marketing companies (OMCs) to generate better returns.

Meanwhile, J.P. Morgan and Macquarie highlighted the government's commitment to continuing LPG under‑recovery payments to OMCs-crucial support for margin stability in challenging market conditions.

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