Analysts cut OMCs' target prices up to over 30% post duty hike on fuel
Updated : May 09, 2020 08:55 AM IST
The government's recent move to hike excise duties on petrol and diesel will be a big drawback for the oil marketing companies (OMCs).
ICICI Securities believes that the net marketing margins would decline to Rs 2.3-4.4/ litre after the recent hike in excise duty
Many analysts have also slashed the companies' earnings by up to 27 percent for FY20-21.