Tax twist for OMC stocks: Indian Oil, BPCL, HPCL shares in 2 Nov focus after this decision by Govt on petrol, diesel
Indian Oil moved higher with 2 Nov in focus.
· LiveMint Markets
Shares of IOCL, BPCL and HPCL may remain in focus after the government raised export duties on diesel and aviation turbine fuel while cutting the petrol export levy to zero for the fortnight starting October 31.
Key facts
- Dates in focus
- 2 Nov and October 31
The analysis
Against that, the stock is -0.2% on the day at ₹130.15, and has returned -7.0% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.7% over the same period, so Indian Oil is running 1.3 points behind its peers.
With Indian Oil, Bharat Petroleum and Hindustan Petroleum all implicated, this reads as a Oil & Energy-level move rather than a company-specific one, which is the more durable kind of signal.
Market context
- 3 of the 3 companies named are in Oil & Energy, so the story reads across that sector rather than for one company.
- On the day, 0 of 3 are higher: Indian Oil leads at -0.2% and Bharat Petroleum (BPCL) trails at -1.5%.
- Over three months: Indian Oil -7.0% against Oil & Energy -5.7% (1.3 points behind); Bharat Petroleum (BPCL) -9.8% against Oil & Energy -5.7% (4.1 points behind); Hindustan Petroleum (HPCL) -12.3% against Oil & Energy -5.7% (6.6 points behind).
- At least 25% below the 52-week high: Indian Oil (31%), Bharat Petroleum (BPCL) (27%) and Hindustan Petroleum (HPCL) (32%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Indian OilIOC · Oil & Energy | ₹130.15 | -0.2% | -3.5% | -7.0% | -30.6% | 1.4× | — |
| Bharat Petroleum (BPCL)BPCL · Oil & Energy | ₹284.90 | -1.5% | -6.0% | -9.8% | -26.6% | 0.6× | — |
| Hindustan Petroleum (HPCL)HINDPETRO · Oil & Energy | ₹340.55 | -0.5% | -2.8% | -12.3% | -31.8% | 0.7× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Indian Oil, Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL)
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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