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Fitch Ratings sees risks to oil marketing companies as govt seeks more returns

Updated : April 26, 2019 12:37 PM IST

Financial profiles of state-owned oil marketing companies such as Indian Oil Corp (IOC) may be at risk in the near to medium term due to pressure from the government to increase shareholder returns, Fitch Ratings said on Friday.
Struggling to meet budget targets, the government had in the just concluded fiscal (2018-19) asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
Fitch Ratings sees risks to oil marketing companies as govt seeks more returns

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