BPCL, HPCL, IOC rally on petrol price hike

MUMBAI (Reuters) - State-run oil companies rallied after the government allowed them to raise the prices of petrol, though the action was more mixed for auto stocks.

BPCL gained 3 percent, HPCL added 2.3 percent, while IOC advanced 2.7 percent.

The impact on auto stocks was more mixed given the proportion of petrol and diesel vehicle sales are different per company.

Maruti Suzuki shares fell 2.6 percent, while two wheeler makers Bajaj Auto fell 1.5 percent and Hero MotoCorp lost 1.4 percent.

(Reporting by Manoj Dharra; Editing by Rafael Nam)