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As earnings season sets in this week, CLSA expects earnings from oil and gas sector to be a ‘bumper’ one.
The global research firm believes that companies such as Indian Oil, BPCL and HPCL are set to witness strong results. Further, a strong rise in gross refining margins quarter on quarter and an increase in petrol and diesel marketing margin are positive catalysts.
Among companies, it said that Reliance Industries could report 2.5 percent quarter on quarter rise in standalone net profit, while Oil India and ONGC could gain from higher crude price.
Meanwhile, in case of higher volumes will ensure GAIL and Petronet LNG could report QoQ rise in PAT.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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