Jefferies downgrades 5 stocks including GAIL,BPCL, Gujarat Gas to underperform in Oil&Gas sector; whereas Mahanagar Gas still remains the top pic of Jefferies

In a recent analysis of the Oil & Gas sector, Jefferies has downgraded five stocks, including GAIL, Gujarat Gas, Bharat Petroleum, Hindustan Petroleum, and Petronet LNG, to ‘underperform.’

However, Mahanagar Gas continues to hold its position as Jefferies’ top pick. The brokerage firm suggests a ‘hold’ rating for Indraprasth and Indian Oil.

Jefferies anticipates a range-bound profitability scenario for Reliance Industries Limited (RIL) in the Oil-to-Chemicals (O2C) segment throughout FY25. The forecast indicates a 13% consolidated Ebitda growth, primarily propelled by tariff hikes in Jio.