OMCs downgraded as risk-reward turns unfavourable
New Delhi, Jan 9 (IANS) JM Financial Institutional Securities said in a report that in the absence of any valuation comfort post recent rally (OMCs trading at 10-30 per cent premium to historical P/B valuations), the risk-reward has turned unfavourable and therefore downgrade of HPCL, IOC, BPCL.Stock prices of OMCs (HPCL/BPCL/IOCL) have rallied by…
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