Diesel price hiked by Rs. 1/litre - Angel Broking

Media reports suggest that the Oil marketing companies (OMC's) have raised the price of diesel by Rs. 1/litre. In January 2013 the government had given its nod for diesel price to be raised in small proportion every month. This is in-line with our expectation that in the next 12-18months the subsidy on diesel will be completely removed.
BR>Hence, we maintain our estimates and rating on ONGC and GAIL.

Source : Equity Bulls

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