Expect crude to remain in USD 55-65/bbl range: HPCL

Hindustan Petroleum Corporation's (HPCL) Q2 number are in focus. Brokerages are divided on the stock in terms of the kind of valuation it trades at and also in terms of gross refinery margins (GRMs). In an interview to CNBC-TV18, MK Surana, CMD of HPCL spoke about the results and his outlook for the company.

Surana said crude prices have been volatile, they went from USD 57 per bbl to USD 65 per bbl and came down to USD 63 per bbl. So one has to keep an eye on where crude prices are going.

Uptick in prices could be more a reaction to some geopolitical situations  rather than some structural shift, he said. According to him, crude prices may remain between USD 55 per bbl and USD 65 per bbl.

He further said that if we are able to pass on the increase in prices and we operate efficiently, the marketing and refining should do well when the GRMs are good. The only negative being a lot of volatility could lead to inventory losses, he added.