Crude prices to remain in $58-62 range in near future: MK Surana, HPCL

Indian OMC stocks are undervalued considering the type of assets which they own, the business models, the demand potential along with the type of refining capacity and expertise that the country has, says MK Surana, CMD, HPCL. Excerpts from an interview with ETNOW.

In the last one month, OMC stocks have gained very smartly because the market seems to be realising their true value and a rerating has happened ahead of the BPCL divestment. Do you feel Indian OMCs are undervalued considering the assets they own and the sheer scale of operations and distribution reach?

I have maintained for a long time that Indian OMC stocks are undervalued considering the type of assets which they own, the business models, the demand potential along with the type of refining capacity and expertise that the country has.