OMC: Cheap Valuations, Lower Crude & Stable Refining Margins To Drive Growth | Business News

Описание: India’s state-owned oil marketing companies rise in trade post BJP routed its national rival, INC 3-0 in the elections of the three key Hindi heartland states – Madhya Pradesh, Rajasthan and Chhattisgarh – beating expectations as suggested by opinion and exit polls.
As per Nomura, BJP’s win in all three big states is a positive surprise and should calm fears over fiscal populism. This also means, the government might not ask OMCs to cut retail fuel prices – petrol and diesel – given that crude prices are lower. This assumption propelled the share prices of OMCs higher.
Along with this, not only the refining margins are stable, but also the valuations are cheap.
#omc #oil #fuelprices
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