Oil marketing companies shares drop 13%, after hike in excise duty on petrol, diesel

New Delhi: Shares of oil marketing companies Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel.

Hindustan Petroleum Corporation Ltd (HPCL) shares tanked 13 percent, Bharat Petroleum Corporation Ltd (BPCL) plunged 9.99 percent and Indian Oil Corporation (IOC) dropped 7.49 percent on the BSE.