ONGC, Oil India shares gain up to 3% as Israel-Iran conflict drives crude higher; drag on refiners, tyre makers

Share prices of ONGC and Oil India surged on Monday as heightened tensions between Israel and Iran have propelled global crude oil prices, benefiting upstream producers. Conversely, share prices of oil marketing companies such as IOCL, BPCL and HPCL and tyre manufacturers like MRF, JK Tyre & Industries and CEAT faced declines due to concerns over rising input costs.