Kotak retains sell rating on HPCL, IOC & BPCL, estimates up to 33% slide

April 4, 2024

Kotak Institutional Equities expressed concerns over OMCs’ capex plans due to limited pricing freedom. Government’s petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.

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Jefferies sees a wide risk-reward range for Vodafone Idea, forecasting up to 143% upside in its bull case and 25% downside in its bear case.

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