Missiles stopped falling and the shares of these government companies became rockets, 5% jump in an hour, investors became rich

Oil companies shares: After the announcement of the end of Iran-Israel war, Indian investors’ pockets were filled with joy. Today, the stock market is seeing a sharp rise and this had a special effect on the stocks of oil companies, which saw a rise of up to 5 percent in the morning itself.

After the declaration of ceasefire between Iran and Israel, the Indian stock market has registered a tremendous rise. The stocks of many companies have become rockets. Especially the government oil companies have got tremendous benefit from this, because as soon as the war ended, the prices of crude oil in the global market have come down once again and these government oil companies have got direct benefit from this.

Earlier, on Tuesday, June 24, US President Donald Trump said that the war between Iran and Israel is now over and both sides agree to stop it. With this ceasefire, the possibility of peace in the Middle East has increased. This decision had a direct impact on the prices of crude in the global market and Brent crude has fallen by $5.53 to below $70. The rate of WTI has also fallen by $5.53 to reach $68 per barrel.

Companies were under pressure for a month
For the past one month, government oil companies were also under pressure due to the ongoing tension in the Middle East and West Asia. After the ceasefire between Iran and Israel, these companies have also heaved a sigh of relief. This is the reason why stocks of big oil companies like Indian Oil, Bharat Petroleum, Hindustan Petroleum have shown a jump on Tuesday morning. Stocks of companies like Oil India and ONGC are seeing a 10 percent rise.

HPCL has the highest jump
Due to the rise in crude oil, HPCL stock has recorded the highest jump on Tuesday morning. At 9.17 am, IOC shares showed a jump of 3.6 percent and it reached the price of Rs 144.93. BPCL shares also showed a rise of 3.3 and it reached the price of Rs 323.50. HPCL’s stock was trading at Rs 411.50 in the morning, up 4.5 per cent. However, ONGC’s stock saw a decline of 2 per cent and reached Rs 246. Oil India’s stock is also trading at Rs 456, down 3.4 per cent.

How does crude affect

How does the increase or decrease in crude oil prices affect oil companies. Actually, when the price of crude increases, government oil companies also come under pressure because their profit margins decrease. However, instead of putting this burden directly on the customers, the oil companies bear it themselves. However, brokerages like MK Global have estimated that the price of Brent crude will remain in the range of $ 75 per barrel and companies may have to keep their margins on this.

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