Shares of BPCL, HPCL, and IOC may stay in focus after Oil Minister Hardeep Singh Puri said the government will compensate OMCs for under-recoveries on subsidised LPG sales. OMCs faced losses exceeding Rs 40,000 crore in FY24 amid stable domestic LPG prices despite global spikes. While past support was granted, firms say the compensation gap remains.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets