Analysts recommend buying these oil and gas stocks; see an increase of up to 21%

Shares of oil marketing companies such as HPCL, BPCL and IOCL have corrected 9-18 percent since mid-February as gross marketing margins on petrol and diesel have fallen from an average of Rs 2.3 to Rs 0.2 per liter in April 2024. average of Rs 8.0 to Rs 3.4 per liter in the fourth quarter of financial year 2023-24 (FY24), those at Motilal Oswal said.

Analysts at Motilal Oswal believe that the current weakness in marketing margins is largely due to geopolitical headwinds, continued maintenance of refining capacity and higher oil shipping freight rates.

The brokerage expects marketing margins

First print: April 18, 2024 | 3:16 PM IST