Goldman Sachs downgrades Indian oil marketing companies, says risk reward less compelling

Hindustan Petroleum

24/03/2026 04:49

** Goldman Sachs downgrades Indian oil marketing companies (OMCs), cites risk reward for Indian OMCs has turned less compelling

** BPCL BPCL.NS and HPCL HPCL.NS downgraded to "neutral" from "buy" and Indian Oil Corp IOC.NS downgraded to "sell" from "neutral"

** OMCs have come under pressure in recent sessions as geopolitical risks push oil prices higher

** Brent futures LCOc1 up $4, or 4%, to $103.94 a barrel, as of 0400 GMT

** Higher oil prices weigh on OMCs' margins

** On the day, IOC down 0.41%, BPCL up 0.37%, HPCL up 1.2%

** YTD, IOC down 17%, BPCL sheds 29%, HPCL loses 35%

 (Reporting by Komal Salecha in Bengaluru)

 ((Komal@thomsonreuters.com))