While the benchmark indices Sensex and Nifty were under pressure, the oil and gas stocks were among top picks on Friday's trading session.
At around 1.22 PM, BSE Oil & Gas was performing at 12,109.72 above 157.35 points or 1.32%. The index has touched the day's high of 12,225.53.
On the index, state-owned
HPCL (+4.20%), BPCL (+4.05%),
Indian Oil (+2.42%) were the lead gainers.
Other stocks like
Petronet LNG, RIL, GAIL and ONGC also contributed to the gains.
Indian Oil and Reliance Industries (RIL) are set to announce their financial performance for September 2020 (Q2FY21) quarter today.
While BPCL is the latest company who has presented its quarterly performance. In Q2FY21, BPCL registered a whopping 58.44% yoy rise in consolidated net profit to Rs2,589.52cr. However, BPCL witnessed a 12.29% drop in revenue to Rs66,331.22cr in the quarter under review, compared to Rs75,627.99cr in the corresponding period of the previous year.
Meanwhile, HPCL has proposed a buyback plan.
However, GSPL, Indraprastha Gas and Castrol India were among top underperforming stocks.