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Stock Market Today: BPCL share price gained more than 4% in intraday trade to touch 52 week highs as HPCL IOC also saw gains of up to 2.5%. The analysts expect firm refining outlook and good marketing outlook to drive further upgrades for the oil marketing companies. ....
Sudip Bandyopadhyay, Group Chairman of Inditrade Capital, advises caution in the oil and gas sector due to investments in energy transition and upcoming elections. He highlights the attractively valued oil marketing companies compared to other PSUs but warns of potential challenges in earnings and handling volatile oil prices. ....
The government has also scrapped its plan to spend ₹5,000 crore on filling the strategic petroleum reserve (SPR). Crude oil has been very volatile this fiscal year and is currently trading around $80 per barrel, making it harder for officials to make purchase decisions. ....
Finance Minister Sitharaman has deferred the Rs 15,000 crore equity infusion for fuel retailers to support energy transition projects. The budget documents did not provide any funds either in the current fiscal or the next for filling of the strategic reserves. ....
The government has also scrapped its plan to spend ₹5,000 crore on filling the strategic petroleum reserve (SPR). Crude oil has been very volatile this fiscal year and is currently trading around $80 per barrel, making it harder for officials to make purchase decisions. ....