Shares of (OMCs) showed resilience against rising crude oil prices, losing only up to 1.5% even as Brent futures rallied almost 7% on Monday.
Bharat Petroleum Corporation (BPCL) shares emerged as the worst loser with a 1.55% decline, while Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) stocks shed less than 1% each.
The losses were capped as oil prices remained below $100 per barrel amid mixed signals on the US-Iran war front. As these oil PSU stocks are already down 16-22% from pre-war levels, analysts also believe the worst seems priced in.
(This is a developing story. Kindly check back for updates.)