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Kotak Issues 'Sell' Call on IOC, BPCL, HPCL Shares; Warns of Profit Drop if Crude Hits $100+
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Kotak Warns on OMCs: 'Sell' IOC, BPCL, HPCL as $100+ Crude Erodes Profits
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CNBC Awaaz
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17-03-2026, 08:17
Kotak Warns on OMCs: 'Sell' IOC, BPCL, HPCL as $100+ Crude Erodes Profits
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Kotak Institutional Equities advises caution on OMC shares (IOC, BPCL, HPCL) due to West Asia crisis and rising crude oil prices.
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Brokerage reiterates 'Sell' rating and cuts target prices for all three OMCs, citing increased pressure on earnings.
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Crude oil estimates raised to $85/barrel for FY27; limited retail pricing freedom means OMCs bear higher costs.
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Previously gained marketing margins on petrol/diesel may erode if high oil prices persist and costs can't be fully passed on.
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IOC target cut to ₹100, BPCL to ₹240, HPCL to ₹235, reflecting higher risks from crude and limited pricing power.
Read Full Article on Cnbc in Hindi
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