Oil marketing majors IndianOil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) posted a mixed set of earnings for March quarter. The trio together posted over 25 per cent year-on-year (YoY) jump in net profit on a nearly 8 per cent increase in net sales.
Most analysts see limited upside for these stocks in the near term post Q4 results. Shares of IOC, BPCL and HPCL have outpaced equity benchmark BSE Sensex and BSE Oil & Gas index with 80-206 per cent rally between May 20, 2014 and May 20, 2019.
The 30-share Sensex and BSE Oil & Gas index gained 61 per cent and 37 per cent, respectively, during the same period. Read More
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