Shares of oil marketing companies including BPCL, HPCL and IOC are trading 1-3 percent higher on Thursday after Brent crude oil prices dropped in the global market. Currently, Brent crude prices are trading around USD 58.97 per barrel.
On Wednesday the prices slipped by about 2.5 percent after US crude inventories rose for the 10th straight week to the highest in a year, adding to worries about a worldwide supply glut.
Research house Macquarie has maintained buy on BPCL, HPCL and IOC with a target of Rs 392, Rs 300 and Rs 176 respectively. Read More
Latest posts by Moneycontrol.com (see all)
- India’s thermal coal imports likely to rise 10% in 2019: Adani Power - February 19, 2019
- NLC India gains 2% as co joins hands with NHPC on power trading - February 19, 2019
- Crude oil likely to stay range-bound in the short term - February 17, 2019