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Prabhudas Lilladher Report
Oil marketing companies are well placed to gain from recovering economic activity and improving refining and marketing margin outlook.
We believe excise duty cuts of Rs 5/10 litre on petrol/diesel will support the OMCs in crude inflationary times.
Also many state governments cut in added tax rates gives an elbow room to OMC’s for increasing prices and recovering costs, given sharp rise in international prices.
Despite excise duty cuts compresses natural gas remains cheaper by 43%/66% as compared to diesel/petrol in Delhi and city gas distribution player like Indraprastha Gas Ltd. is expected to benefit from private vehicle conversion.
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