Bhamre said that oil marketing companies such as HPCL and BPCL are witnessing profit booking after gains, and stocks such as Indraprastha Gas and Mahanagar Gas are under pressure as they are not expected to get subsidised gas anymore.
Markets closed lower Thursday, with Sensex falling 315 points and Nifty down 82, pressured by Reliance and banks. Gains in SAMHI Hotels, Niva Bupa, and
Adani Energy Solutions Ltd (AESL), the electricity transmission arm of the Adani Group, on Thursday reported an 87 per cent rise in March quarter profit
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