BPCL

Bharat Petroleum Corporation (BPCL) shares emerged as the worst loser with a 1.55% decline, while Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) stocks shed less than 1% each.

Shares of oil marketing companies surged as crude prices eased, with IOC up 8.2%, HPCL up 9%, and BPCL up 8.8%. The drop in Brent crude prices boosts refiners' margins and alleviates inflation concerns, improving sentiment and earnings outlook for these firms.

OMC stocks had gained in the opening deals after the government slashed excise duty on petrol to ₹3 a litre and exempted diesel, as it looks to neutralise the losses for these PSU companies from surging crude oil prices without raising retail prices.

ICICI Securities' analysis one-year forward multiples, over the last three crises, implies that OMC stocks can fall another 15-20% from here, especially if the conflict lingers for another 60 days.

OMC stocks — Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) — lost 4-7% as oil prices rose to $114.

OMC stocks such as HPCL, IOC and BPCL crashed up to 9% on Monday amid a sharp spike in crude oil prices.

The rise in crude oil prices, driven by geopolitical tensions, poses challenges for Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum. If prices remain high, OMCs may face pressure on marketing margins, affecting their earnings and potentially leading to higher retail fuel prices.

Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) shares fell up to 6%. Reliance Industries share price declined over 3%.

Oil marketing companies, including BPCL, HPCL, and IOC, saw share price declines of up to 3% due to rising global crude prices, which raised concerns over their marketing margins and earnings amid geopolitical tensions.