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    What makes Indian Oil analysts' favourite bet among OMCs

    IOC has been able to bring down its debt in the recent past and this has helped IOC to bring down its interest costs.

    Synopsis

    IOC’s refineries are back to 100% capacity utilisation levels which should help improve its refining margins. Besides, the company is expected to report y-o-y Ebitda and net profit growth of 15% and 55% respectively during the third quarter. This has made the company a favourite of analysts.

    Indian Oil Corporation (IOC), the largest domestic oil marketing company (OMC) with more than 29,000 retail outlets, has reported bumper profits in the second quarter of 2020-21 and is expected to repeat the same in the third quarter. Opening up of the economy and resumption of economic activities after a long haul are helping OMCs like IOC. India’s oil demand was up 4% m-o-m in December, which was a fourth consecutive m-o-m growth. Though the
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    The Economic Times