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Kotak Institutional Equities expressed concerns over OMCs capex plans due to limited pricing freedom. Government s petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL. ....
The shares of OMCs have rallied up to 170% in the last one year. Still, they are available at low valuations and, therefore, look attractive. But going forward, a lot will depend on which way crude oil prices move. ....