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ICICI Securities research report on Hindustan Petroleum
The Ministry of Petroleum and Natural Gas officially announced a price cut of INR 2/ltr for both petrol and diesel across the country, which will be borne entirely by the OMCs with effect from 15 Mar’24. Despite the sentiment attached to the price cuts, we in fact are enthused by the reasonable level of price cuts, given the market realities, investment needs of the OMCs and the need to absorb the recent LPG price cut over FY25E if needed. We maintain that…
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