Stocks of oil marketing companies (OMC), which had rebounded from their February lows, have corrected up to 11.5 per cent in April. A key concern for the Street is the pressure on marketing margins of HPCL, BPCL and IOC in the election season amid rising crude oil prices.
There could be some pressure on their stocks if OMCs don’t hike retail prices commensurate with the rise in crude prices. The pressure on marketing margins add to already existing concerns over gross refining margins (GRMs) that have remained weak for these companies with weakness in benchmark Singapore GRMs. ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.
What you get?
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all the content on any device through browser or app.
- Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that industry.
- Stay on top of your investments. Track stock prices in your portfolio.
- 18 years of archival data.
- Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
- This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information