Gold price fell by Rs 160 to Rs 99,800 per 10 grams in the national capital on Monday due to continuous selling by jewellers and stockists, according to the All India Sarafa Association.
Kotak Institutional Equities reports that rising crude oil prices benefit upstream companies like ONGC and Oil India, increasing their EPS. Surprisingly, OMCs (BPCL, HPCL, IOCL) may also gain if the government maintains current pump prices, leading to potential margin expansion. While refining margins are modest, improved marketing profitability could offset these concerns.
