“Probal Sen of ICICI Securities is bearish on the immediate profitability prospects for Oil Marketing Companies (OMCs), stating that the recent Rs 10 excise duty cut is insufficient. He estimates OMCs are still incurring Rs 20-25 per litre losses on blended retail margins due to international crude prices more than doubling. While a further Rs 10-15 per litre retail price increase would be needed to restore profitability, a near-term status quo on pump prices is expected given the government's focus on price stability, with hopes for crude price moderation within 15-20 days.”

Probal Sen’s track record: 3 graded calls · 95% CI 0–56%