Lower GRMs amid high crude price may drag down performance of state-run OMCsMoneycontrol • about 11 hours ago
Singapore GRMs have fallen below $4 per barrel in April—lowest since October 31—compared to around $10 per barrel in February, highest so far in 2024.
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The BPCL counter is making intraday highs even in volatile market conditions and is expected to test Rs 615-620 levels over the next three to four sessions, derivatives trader Arun Kumar Mantri has said
Once operational, this pipeline will operate on a common/contract carrier basis, ensuring seamless fuel transportation to the airport.
Net Sales are expected to decrease by 10.5 percent Y-o-Y (down 8.5 percent Q-o-Q) to Rs. 1,05,710 crore, according to Prabhudas Lilladher.
The latest hike in windfall tax marks the fifth such increase since February. The move by the Indian government comes as global oil prices continue to rise amid concerns over potential disruptions in supply due to escalating geopolitical tensions.
Nomura has upgraded HPCL, with the target price raised to ₹570. Similar upgrades apply to BPCL and IOC. Nomura argues that the recent price cut has eliminated the overhang concerning the marketing segment.
Petrol prices in Delhi would now be Rs 94.72 per litre compared to Rs 96.72 per litre earlier.
BPCL will supply automotive lubricants, greases and specialties for sale at both GGL's COCO (Company Owned Company Operated) and franchise outlets.
Experts expect the momentum to sustain in the coming weeks, too, with immediate resistance at 22,500-22,600, followed by the medium-term target of 23,000, provided it holds the upward sloping resistance trendline
HSBC analysts expect rangebound oil prices movement will support OMCs profitability in the near-term