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“I would still buy IOC, BPCL & HPCL,” says Probal Sen, Energy Analyst at ICICI Securities, as he remains positive on the outlook for oil marketing companies. He says gas realisation is improving, OMC balance sheets are in a much better shape, and FY27 pricing could be more favourable. Looking at FY28 valuations, he believes the sector continues to look attractive.
Why Probal Sen Is Bullish On OMCs Despite Crude Volatility
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