UBS downgrades IOC, BPCL, HPCL as crude oil surge past $100, raising margin concerns
Global brokerage UBS has downgraded shares of India’s major oil marketing companies (OMCs) after global crude oil prices surged past $100 per barrel amid escalating tensions in West Asia.The brokerage downgraded Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) to a “neutral” rating, while Hindustan Petroleum Corporation Limited (HPCL) was downgraded to “sell.”According…
