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Stock Tips: Opportunity for profit in the shares of oil marketing companies, know where the profit will be

Oil marketing companies may have cut petrol and diesel prices during the last few days, but in May and June, fuel prices were increased 16 times. In the international market, the price of crude oil has come down to $ 70 per barrel. Along with this, the price of petrol and diesel has been cut by 40 paise to one rupee per liter in July. But there is a possibility of further increase in the earnings and profits of oil companies. Therefore, research and brokerage firm Emkay Global Financial Services has predicted a 38 percent rally from the current level in the shares of BPCL, GAIL, Gulf Oil Lubricants, IGL, IOCL, ONGC and Petronet LNG.

Petrol and diesel sales declined by 4.9 and 15 per cent, respectively, during the second wave of COVID in the oil and gas sector report. LPG sales decreased by 2.7 per cent, while ATF prices increased by 25 per cent.

Sabri Hazarika, Analyst, Emkay Global Financial Services, has highlighted in his report that the sales volume of petrol, diesel, ATF and LPG has increased by 9.4, 18.5, respectively. There has been an increase of 48 and 6.6 percent. The brokerage firm has given BUY ratings to the shares of some companies in this sector and has given reasons for their prospects of better results.

BPCL

BPCL shares are seeing a gain of 16 percent. The target price is Rs 535. The brokerage firm is overweight on oil and gas stocks.

GAIL

GAIL’s shares may rise by 38 percent from its current level. At present, its shares are trading at the level of Rs 145. Its target price is Rs 200.

Gulf Oil Lubricants

According to Emkay, its shares can increase by at least 35 percent, its target price is Rs 800. Currently it is trading at Rs 591.

IGL

Indraprastha Gas Limited’s shares may increase by 21 percent. At present, its current price is Rs 524.60. This share can go up to Rs 635.

IOCL

The shares of Indian Oil Corporation Limited may increase by 27 percent and it may go up to Rs 135 per share.

ONGC

The target price of ONGC has been kept at 140. It can increase by up to 21 percent from the current level.

Petronet LNG

Shares of Petronet LNG can rise up to 18 percent. Its target price has been kept at Rs 270.

(Article: Surabi Jain)

(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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