omc stocks

omc stocks: Kotak Equities retains sell rating on HPCL, IOC & BPCL, estimates up to 33% slide

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Lack of pricing freedom on petrol, diesel and LPG prices could deter oil marketing companies (OMCs) from undertaking large scale capex plans on petchem and refining capacity additions, Kotak Institutional Equities said in a note. The domestic brokerage reiterated its ‘Sell’ stance on Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation … Read more

petrol diesel price cut: OMC stocks plunge up to 8% on cut in petrol, diesel prices; HPCL top loser

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Stocks of oil marketing companies (OMCs) witnessed up to 8% decline on Friday following a Rs 2 per litre cut in prices of petrol and diesel, the first in nearly two years. The decision came ahead of the model code of conduct that is likely to kick in shortly. The top loser was Hindustan Petroleum … Read more