Oil marketing companies (OMCs) are buzzing in trade today in anticipation of price hike by these companies soon, now that elections are over.
According to Credit Suisse, OMCs haven’t increased the prices in the month of March and April despite rising crude prices and cracks for both petrol and diesel. That would have hit marketing margins badly for these OMC companies.
If the OMCs decide to hike the prices, this will be positive for the stocks given the benign valuations.CNBC-TV18’s Nimesh Shah has more details. Watch this video for more.