Future looks gloomy for HPCL , BPCL , IOC , says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "All oil marketing companies come what may are going to report an EPS for HPCL, BPCL it would be anywhere between Rs 40-45, for IOC it will be Rs 25-30, because ultimately at the end of the fourth quarter we see the total under-recovery getting supported or replenished by the government. But I don't think that this time it is likely to happen because there will definitely be the slaughtering of these oil marketing companies also and the bottom-line is going to get affected."
He further added, "If the rupee continues to weaken the crude prices continues to rise, no support to the oil marketing companies. See now the IOC they have Rs 130,000 crore as debts and the suppliers credit, so overall precarious position on all three oil marketing companies."
