OMCs take a hit on Dalal Street as global crude prices spike
“OMCs saw a knee jerk reaction on Monday,” said Hemang Jani, head, equity strategy, broking and distribution, Motilal Oswal Financial Services. “The spike in crude oil prices won’t have an immediate impact, but if the prices remain elevated or head towards the triple-digit mark, it will have an aggregate impact not just on OMCs but the overall economy as well.”
