Markets
Energy

IOC, HPCL, BPCL stocks are having a dream rally. Will benign oil prices continue to fuel it?

IOC, HPCL, BPCL stocks are having a dream rally. Will benign oil prices continue to fuel it?
Getty Images

Indian Oil petrol pump in Kolkata, India

Synopsis

The shares of OMCs have rallied up to 170% in the last one year. Still, they are available at low valuations and, therefore, look attractive. But going forward, a lot will depend on which way crude oil prices move.

By
7 mins read,
India’s oil marketing companies (OMCs) have certainly given their investors some bragging rights. Take for example Indian Oil Corporation (IOC), the largest government-owned oil producer in the country both in terms of capacity and revenue. IOC shares have given nearly 170% returns in the last one year. The stock went from INR70 per share in January 2023 to its recent high of INR197. Similarly, HPCL and BPCL shares have given returns of 138% and

To Read the Full Story, Become an ET Prime Member

Access the exclusive Economic Times stories, Editorial and Expert opinion

Subscribe Now

Monsoon Offer

Get flat 20% off

on ETPrime membership

Membership Benefits

Access the exclusive Economic Times

Stories, Editorial & Expert opinion

Complete Access with ET Prime

Experience your Economic Times newspaper, The way you've always liked!

Get to know where the market gurus invest & grow your portfolio.

Stock Report Plus

In-depth stock analysis for 4000+ companies

Stock Analyzer

Instant stock analysis based on Solvency, Profitability, Growth, Valuation, Momentum, Risk & More.

Now Available with ET Prime

Manage your money efficiently with this weekly guide.

Clean experience

with minimal ads

Easy & distraction-free reading with 90% less ads

Sharp Insight-rich,

In-depth stories across 20+ sectors

1500+ Exclusive stories & analysis across sectors to help you stay informed

Get One Year Times Prime Subscription worth ₹1199 for free

Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-

Enjoy unlimited access to breaking news and thought provoking stories from all around the world.

Get One Year Docubay Subscription worth ₹999 for free

Stream award-winning international documentaries from more than 100 countries.

Offers By Our Partners

Exclusively for ET Prime Members

Members Love Us

The stalwarts of the industry trust ET Prime for insightful analysis & unbiased thought pieces

Gift a story

Your membership includes Story Gifting Credits. Now gift exclusive stories to your friends & peers.

Comment & Engage

with ET Prime community

Communicate & build a connection with great minds of the industry

A trusted team of

Journalists & Analysts

Unbiased perspective & detailed reporting by our team of journalists who have in-depth knowledge and years of experience