Oil stocks jumped up to 8% on Monday led by gains in state-run Oil & Natural Gas Corporation (ONGC) and market heavyweight Reliance Industries (RIL) on fuel supply concerns in the aftermath of a missile attack on a Trafigura-operated fuel tanker in the Red Sea.
PL has maintained its ‘SELL’ rating on HPCL with a revised target of Rs 276 against Rs 272 earlier. It downgraded ratings on BPCL and IOC Ltd from 'Reduce' to ‘Sell’, valuing them at 1 time FY26 PBV and 0.7 times FY26 PBV, respectively.
Tata Steel traded at a discount of 39 per cent at 12.4 times against a 10-year PE average of 20.4 times. This stock is up 19 per cent in the last six and 15 per cent in the last one year.
For Thursday, share market analysts from a domestic brokerage have assigned Buy/Hold calls on Oil India, ONGC and Asian Paints. Check price targets and other crucial details.