Your pocket was cut and the oil companies pocketed Rs 12,400 crore! A storm came in the market as soon as petrol and diesel became expensive

Once again the burden of inflation has increased on the pockets of the common people. For the second time in the last one week, petroleum companies have given a shock to the common man by increasing the prices of petrol and diesel significantly. On Tuesday, the price of petrol and diesel was increased by an average of 90 paise per liter. If we look at the accounts of the last five days, the prices of petrol and diesel have increased by a whopping Rs 4 per litre. But there is another interesting aspect to this story. While on one hand the people of the country are upset with this increase, on the other hand there has been a tremendous rise of more than 3 percent in the shares of petroleum companies in the stock market.

Within a few hours of the price increase, these companies together have made a bumper earning of about Rs 12,400 crore from the market. This simply means that there has been a huge jump in the market valuation of these companies. If we look at it from valuation point of view, then the country’s giant company IOCL has benefited the most in this game. Let us explain to you in simple language how huge profits the three major government oil companies of the country i.e. Bharat Petroleum (BPCL), IOCL and HPCL have made in the stock market.

Bharat Petroleum’s fortunes shine

As the prices of petrol and diesel increased, there was strong buying in the shares of Bharat Petroleum and its shares jumped by 3.09 percent during the trading session. With this rise, the company’s shares reached the day’s highest level of Rs 289.55. Whereas just a day ago the company’s shares had closed at Rs 280.85. Even at 12:30 pm, the company’s shares were trending at Rs 287.60 with a rise of 2.40 per cent. If we talk about valuation, the market cap of the company was Rs 121,845.90 crore a day ago, which after this rise increased to Rs 125,620.37 crore. That means, a profit of Rs 3,774.47 crore was directly recorded in the valuation of the company.

IOCL got the biggest benefit

Shares of IOCL, one of the country’s largest petroleum companies, also created panic in the market on Tuesday. Its shares also rose by more than 3 percent. According to government data, the company’s shares jumped 3.18 percent during trading to reach the day’s high of Rs 136.05. A day earlier the same share had closed at Rs 131.85. Even at 12:30 pm, IOCL shares were trading at Rs 135.85 with a rise of 3.03 per cent. This rise had an impact on the overall valuation of the company, which increased from Rs 186,188.53 crore a day earlier to Rs 192,119.45 crore on Tuesday. In this way, there was a huge increase in the valuation of the company by Rs 5,930.92 crore.

HPCL shares also witnessed huge rise

The shares of Hindustan Petroleum i.e. HPCL also witnessed the most spectacular rise during this period. A rise of 3.52 percent was recorded in the company’s shares during the trading session. According to data received from BSE, the company’s shares reached a high of Rs 371.85 during trading, while it had closed at Rs 359.20 on Monday. Even at 12:30 pm, this share was standing at Rs 371.60 in the market with a strength of 3.45 percent. If we talk about valuation, the market cap of the company was Rs 76,431.38 crore a day earlier, which increased to Rs 79,123.07 crore on Tuesday. That means a huge increase of Rs 2,691.69 crore was recorded in the valuation of the company.