Indian Oil shares rise after Q1 beat; brokerages upbeat
BUZZ-Indian Oil shares rise after Q1 beat; brokerages upbeat ** Shares of Indian Oil Corporation IOC.NS shares up 3.6% to 145.2 rupees, their sharpest rise since June 12
** Refiner beats Citi's EBITDA expectation, driven by strong refining performance, high marketing inventory gains
** Citi says integrated margins picked up meaningfully at Q2's start
** Adds recent developments increase likelihood of extended pause in fuel duties, retail prices; should support OMC profitability once crude price normalises
** BOBCAPS says strong demand for petroleum products continues to support business growth; maintains "buy"
** PhillipCapital expects co's ongoing refining, petrochemical expansion to provide multiple medium-term growth drivers; maintains "buy"
** Co better placed than peers among state-run fuel retailers; expects Q1 pre-tax loss to fully recover in Q2 -Dolat Capital
** Stock down 13.4% YTD
(Reporting by Aleef Jahan in Bengaluru)
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