Fitch also expects OMCs to incur large marketing losses in FY23 with continuing negative marketing margins as we expect crude oil prices to remain elevated until geopolitical tensions ease while rising inflationary pressure would prevent the OMCs from increasing fuel prices in the near term.
Big movers on D-Street: What should investors do with CEAT, ABFRL and Coforge?
Stocks that were in focus include names like CEAT, which fell 2.93%, Coforge, which was down 10.03%, and ABFRL, whose shares dropped 3.43% on Friday.