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June 12, 2025

ONGC, Oil India shares rally up to 5% as crude prices surge; OMCs, tyre, aviation stocks slide on cost concerns

Shares of state-run oil producers ONGC and Oil India rallied up to 5% on Thursday, tracking a sharp uptick in global crude prices, even as downstream oil marketing companies, tyre makers, and aviation stocks fell amid concerns over higher input costs.Oil and Natural Gas Corporation (ONGC) shares rose 3.2% to Rs 255.15 on the BSE, while Oil India surged as much as 5% to Rs 488.8. The gains came after oil prices climbed more than 4% overnight to their highest levels since early April, supported by fears of supply disruptions in the Middle East.Higher oil prices tend to benefit upstream producers like Oil India and ONGC, as they boost realisations from crude sales.However, the rally in crude triggered losses in oil marketing companies (OMCs), which are typically hurt by costlier feedstock. In

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