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Kotak Institutional Equities reports that rising crude oil prices benefit upstream companies like ONGC and Oil India, increasing their EPS. Surprisingly, OMCs (BPCL, HPCL, IOCL) may also gain if the government maintains current pump prices,
Brent Crude futures rose today amid fears of Iranian retaliation in the wake of America's bombing of three of its nuclear facilities. The oil price stood at its highest level since January at $78.31, an increase of about 1.4% in this morning’s dealings.