Oil Companies set to collapse in India

The Indian Government has decided not to increase the rates of petrol and gas in the country in order to bring them more in line with the prevailing international market rates.
This is a Government that is concerned more with its own political survival than the health of the nation's economy!

It has only marginally increased the rates of petrol and gas.
The rich will continue to zip around in cars and SUVs.

The net effect will be that the Oil Companies, once the toast of Corporate India, will be committing whosesale suicide.

Then what happens seems to apparently not concern the Indian Govt.
All those who have invested in the Stocks of Oild companies, including Reliance Oil, are going to suffer.
Their investments wsill be wiped away.

We'll be seeing a lot of Stock market failures soon.

Poor Oil Companies.
Poor India.