Indian oil refiners change tactics, hire tankers to sail through Hormuz
Indian Oil moved lower.
· BS Companies
Refiners are shifting from relying on Gulf producers and traders to transport crude through Hormuz, seeking to reduce the premium paid for cost-and-freight…
The analysis
Against that, the stock is -3.5% on the day at ₹125.45, and has returned -8.2% over three months. It sits 33% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -0.3% over the same period, so Indian Oil is running 7.9 points behind its peers.
For Indian Oil, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is IOC.
- Sector exposure: Oil & Energy.
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