BPCL, HPCL to IOC: OMC stocks fall up to 3% on sharp rebound in crude oil prices
OMC stocks under pressure: Shares of oil marketing companies (OMCs) fell up to 3% on Thursday, February 19.
The three state-run OMCs—Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) —saw a retreat in their share prices, giving up recent gains, as the rebound in global crude prices weighed on investor sentiment amid concerns over potential pressure on marketing margins.
