Cairn India, ONGC, Oil India shares get stronger as Brent crude prices near $50 a barrel

Cairn India, ONGC, Oil India shares get stronger as Brent crude prices near $50 a barrel

Shares of Cairn India, ONGC, and Oil India are back on fund managers’ radar after Brent crude prices rallied more than 60% over past four months to $49 a barrel on Wednesday. The oil exploration companies are likely to witness stock price rerating as higher crude prices are expected to result in stronger margin realisation, and increase in profitability.

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