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Priyam Mehta

11th Apr · SEBI-Registered Analyst

CEATLTD
Shares of airline operators such as InterGlobe Aviation Ltd (IndiGo), oil marketing companies namely Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (HPCL), tyre makers such as Ceat Ltd and MRF Ltd, and other crude-linked sectors climbed up to 11 per cent in Wednesday's trade following the temporay two-week ceasefire between the US and Iran, which paved way for reopening of the Strait of Hormuz. In the case of OMCs, a fall in crude oil prices ease concerns over mounting auto fuel underrecoveries. On Wednesday, HPCL shares surged 9.03 per cent to hit a high of Rs 361.35 apiece. BPCL soared 8.83 per cent to Rs 301.90. IOC jumped 8.21 per cent to Rs 145.55. Tyre stock Ceat Ltd gained 6.02 per cent to Rs 3,594.70. MRF Ltd advanced 3.88 per cent to Rs 1,32,165.15. JK Tyre climbed 8 per cent to Rs 424.80. Rubber chemicals and petroleum derivatives drive tyre production. Low cost carried IndiGo saw its shares rising 10.98 per cent to Rs 4,737.40.

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