DAM Capital has initiated buy ratings on the following oil marketing companies (OMCs):
- IOCL with a target price of ₹181,
- BPCL with a target price of ₹395, and
- HPCL with a target price of ₹440.
The brokerage highlights a significant improvement in the refining environment, expecting this trend to benefit these companies. Marketing margins are projected to continue rising steadily, and LPG losses are set for reimbursement, offering further financial relief. Additionally, DAM Capital notes that the risk of a substantial increase in oil prices remains low, which is favorable for OMCs’ profitability.
Disclaimer: This information is for informational purposes only and should not be considered financial advice. Please consult with a financial advisor for any investment decisions.
