Shares of India’s major oil marketing companies—Hindustan Petroleum Corporation Ltd. (HPCL), Bharat Petroleum Corporation Ltd. (BPCL), and Indian Oil Corporation Ltd. (IOC)—have surged by over 6% in the last two days.
What’s Driving the Rally in OMCs?
This recent uptrend is attributed to a decline in oil prices and a reduction in the government’s windfall…
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