Kotak Insights: BPCL, HPCL’s Impact on Nifty Profits and OMC Guidance for FY24
Kotak Institutional Equities has projected that in the fiscal year 2024, BPCL and HPCL, both integral to the Nifty index, will contribute significantly to the incremental profits, amounting to 31 percent. They anticipate that oil marketing companies (OMCs) may have a dampening effect on overall profits in the following fiscal year, FY25, as market conditions…