The shares of oil marketing companies (OMC) tanked on Monday as the Indian stock market crashed today as the ongoing war in the Middle East led to a sharp spike in crude oil prices.
Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) shares fell up to 5%. Reliance Industries share price declined over 3%.
(More to come)