Petrol price and desiel price hiked buy 75p and 50p respectively

• Petrol price is hiked by 75 paise per litre and diesel price is hiked by 50 paise per litre with effect from midnight today following depreciation in rupee.
• While international oil prices have softened, the rupee has depreciated against the US currency to Rs 56.50 per dollar, about 2 Rs lower than the rate at the rate in March.
• Experts are expecting the rupee to hit 60 Rs. So expect more price hike in coming months.
• The thing hear is that desiel price is also hiked,this will reduce under recoveries of companies like BPCL and HPCL.
• We suggest a buy of BPCL with target of 415 Rs