New Delhi, Feb. 1 -- The shares of state-owned Oil Marketing Companies (OMCs), including Hindustan Petroleum Corporation Ltd. (HPCL), Bharat Petroleum Corporation Ltd. (BPCL), and Indian Oil Corporation Ltd. (IOC), declined by up to 5 per cent on Saturday, February 1, following announcements in the Budget documents concerning LPG subsidies.

Budget documents indicated that the LPG subsidy for the financial year 2025 was allocated at Rs.14,700 crore, but this amount was decreased to Rs.12,100 crore for 2026.

In the first nine months of 2025, Oil Marketing Companies (OMCs) faced LPG under-recoveries totaling Rs.30,000 crore. Among them, Indian Oil reported under-recoveries of Rs.14,325 crore, BPCL recorded Rs.7,200 crore, and HPCL, whose s...