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HPCL Stock Hits 52-Week Low Amid Crude Oil Surge; BPCL, IOC Also Decline
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Crude Oil Surge Hits OMCs: HPCL Nears 52-Week Low, Brokerages Cut Targets
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CNBC Awaaz
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19-03-2026, 13:13
Crude Oil Surge Hits OMCs: HPCL Nears 52-Week Low, Brokerages Cut Targets
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HPCL shares fell 6% to near its 52-week low, with BPCL and IOC also dropping 3-4%.
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Rising crude oil prices, driven by West Asia tensions and attacks on energy infrastructure, are impacting OMCs.
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Brent crude reached $113/barrel and WTI crude hit $100/barrel due to geopolitical events.
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Brokerage Kotak Institutional Equities raised oil price forecasts and cut target prices for IOC, BPCL, and HPCL, maintaining a "Sell" rating.
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JPMorgan estimates a $1/barrel crude price change could impact OMCs' EBITDA by 7% in FY27.
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