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    Valuations remain attractive despite recent rally in OMCs: Antique

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    Valuations remain attractive despite recent rally in OMCs: Antique

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    Antique, in its report, said that despite the recent rally in OMCs, valuations remain attractive. It also said that the real benefit of deregulation of fuel prices has just started flowing and the marketing margins should see further upside from the current levels.

    Fuel prices are at a record high. While it does impact the consumers negatively, it is a positive for the oil marketing companies (OMCs).
    Antique, in its report, said that despite the recent rally in OMCs, valuations remain attractive. It also said that the real benefit of deregulation of fuel prices has just started flowing, and the marketing margins should see further upside from the current levels.
    The report said that continuous investment by OMCs in the marketing segment can lead to an increase in margins by Rs 0.2/litre every year, over the next 3 years.
    According to Antique, the next leg of margin expansion is imminent. The report also said that the auto fuel margins are almost back to FY21 levels and a sharp increase in petrol prices has made ethanol blending very profitable.
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