OMCs, airline stocks rally as crude falls to $68

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Shares in India’s leading oil marketing companies and aviation firms rose in early trade after international crude oil prices fell to USD 68 a barrel after the OPEC late last week decided to not cut output even in the face of rising gap between demand and supply.

At open, IOC, BPCL and HPCL were up 0.5 percent to 1 percent. Effective today. the companies cut prices of petrol and diesel by 91 paise and 84 paise respectively.

Airlines such as Jet Airways and SpiceJet climbed 6.5 percent and 13 percent, respectively, after the OMCs slashed jet fuel prices by 4.1 percent.

SpiceJet was also boosted by news that ace investor Rakesh Jhunjhunwala had picked up stake in the firm.

Other stocks that too are expected to benefit from a fall in crude oil – with the fuel being a key input in their manufacturing – also rose.

Dunlop India, Modi Rubber and Apollo Tyres gained 2.9 percent to 4.7 percent, while Shalimar Paints, Berger Paints and Akzo Nobel surged 5.4 percent to 9.5 percent. Crude is an input in both rubber and paints.