09 Mar 2026 | 3 Mins Read
Indian oil stocks plummet 9% after UBS downgrade amidst crude surge
Flipitmoney
Shares of Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation dropped 8.5–9% after UBS downgraded the stocks, citing earnings uncertainty from rising crude prices and geopolitical tensions. The brokerage cut profit estimates by 15–46% and sees marketing margins at ₹4–5 per litre.