Thus far in the calendar year 2026, the stock price of HPCL, BPCL and IOC plunged between 17 per cent and 22 per cent, as against a 8.9 per cent decline in BSE Sensex.
Here's what leading brokerages expect from India Inc. in Q1-FY27 and a deep dive into expectations across companies in the frontline sectors.
Q1 earnings preview: ICICI Securities said that OMCs could report significant losses, driven by higher retail fuel losses, inventory losses and a sharp rise in LPG under-recovery.
Profitability at state-run oil marketing companies (OMCs) is set to improve as falling crude oil prices lift fuel marketing margins, although rising debt levels and uncertainty over fuel taxes could limit the sector's longer-term earnings outlook, according to a JP Morgan report. Composite margins on petrol and diesel sales at state-run refiners and fuel retailers are now above levels seen before the recent Middle East conflict, with gains driven by lower crude prices and reduced central excise duties, it said. The start of the West Asia conflict triggered a surge in global oil prices but retail pump rates in India remained steady for large parts and rising only by a fraction of the required increase. Even after the Rs 7.50 per litre increase in petrol and diesel prices in May, retail pump rates were lower than the cost. "Our estimates for OMC composite margins on petrol and diesel are now higher than pre-war levels. Losses on LPG are still elevated, but should also start to track o
Among sectors, Bernstein expects oil marketing companies (OMCs) will likely stand to benefit from reduced crude oil prices that dropped around 4 per cent on Monday to $83 a barrel (bbl)
A reopening of the Strait of Hormuz would provide significant relief for India by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation.
Oil market companies (OMCs) gain, while upstream oil companies fall after brent crude oil prices fell
Oil prices slipped to a two-week low on Monday amid optimism over a potential US-Iran agreement
Indian Oil Corporation (IOC), the nation's largest oil firm, on Saturday said there was no overall shortage of petrol and diesel in the country and described fuel outages reported at some retail outlets as "highly localised" and temporary, caused by regional demand-supply mismatches and shifting sales patterns. The state-owned fuel retailer said higher demand at certain outlets was driven by a seasonal rise in diesel consumption during the harvesting season, migration of customers from private pumps where retail prices were relatively higher, and increased institutional purchases at public sector outlets as bulk fuel supplies were being priced in line with elevated international rates. The company said petrol sales during May 1-22 rose 14 per cent year-on-year, while diesel sales increased around 18 per cent, reflecting "sustained and exceptionally high" growth in demand that it continued to meet across the country. In a statement, IOC said it "wishes to reassure customers and the .
Indian Oil reported a 56.6 per cent Y-o-Y increase in net profit to ₹11,377.51 crore, compared with ₹7,264.85 crore in the corresponding quarter of the previous fiscal
Petrol and diesel prices were raised by around 90 paise per litre on Tuesday, marking the second fuel price hike in less than a week
Stocks to Watch today, May 19, 2026: Adani Group stocks, Indian Oil, JSW Steel, Astral, and Lupin are some of the key stocks to watch today
Q4FY26 company results: Firms including Astral, Triveni Turbine, Strides Pharma, DOMS Industries, Strides Pharma Science, and JK Paper are also to release their January-March earnings today
The upward revision in prices for both fuels, said Jyotivardhan Jaipuria, founder and managing director at Valentis Advisors, was already expected though the quantum of ₹3 per litre seems too less.
Rajesh Bhosale, technical analyst at Angel One highlights that BPCL and IOC have consistently faced resistance around their respective 50-day EMAs on the charts in recent past.
Public sector OMCs, including Indian Oil, BPCL, and HPCL, have been incurring losses of about ₹20 per litre on petrol and nearly ₹100 per litre on diesel due to elevated global crude prices
Stocks to watch today: Stocks of OMCs, Adani Group, Tata Steel, JSW Steel, United Spirits, Voltas, HFCL, HCC, Apollo Tyres, are among the key stocks in focus today.
Among the index constituents, Mahanagar Gas fell around 4.5 per cent, followed by IOCL, BPCL, Adani Total Gas, HPCL, Petronet LNG, Chennai Petroleum, and GAIL down over 2 per cent each
Market analysts attributed the sharp spike in crude oil prices to supply disruptions amid concerns that output from key West Asia producing regions may remain constrained for longer
On its part, the government has denied reports of hiking petrol and diesel prices despite the surge in crude oil in the backdrop of the conflict in West Asia.