Citi Ranks IOCL Top Pick Among Indian OMCs, HPCL Trails on Leverage Risk

Citi orders Indian state-owned downstream refiners IOCL > BPCL > HPCL, citing refining scale and margin resilience; government fuel-pricing policy flagged as key sector risk for all three.

ndtv-profit-business · 7/14/2026, 6:03:15 AM · Ask about this →