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BPCL, HPCL, IOC: Here's how to trade oil-marketing companies' stocks

BPCL, HPCL, and IOC have corrected up to 22 per cent since their highs of July.

BPCL, petrol, petrol pump
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Stocks of OMCs have come under pressure since late July over concerns on demand, inventory losses.

Avdhut Bagkar Mumbai
Shares of oil marketing companies (OMCs) were trading in the negative territory in the morning deals on Wednesday. While Bharat Petroleum Corporation (BPCL) traded 6 per cent lower, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) were down 1.5 per cent and 4 per cent, respectively.

Stocks of OMCs have come under pressure since late July over concerns on demand, inventory losses led by soft crude prices, and weak refining margins. BPCL, HPCL, and IOC have corrected up to 22 per cent since their highs of July, while the Sensex has risen over five per cent in this

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First Published: Sep 30 2020 | 11:11 AM IST

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