Market capitalisation of the company has fallen by Rs 35,020 crore to Rs 9,555.70 crore from Rs 44,575.60 crore in last four months.Rising crude oil prices have hit oil market companies (OMCs) hard. IOC, BPCL and HPCL have lost Rs 31,175 crore, Rs 30,445 and Rs 18,545 crore in terms of market cap this year as their shares slipped between 15-30 per cent.OMCs are getting punished for ‘probable’ margin compression due to higher crude oil prices. However, ONGC and Oil India are not getting rewarded for the same. Recent correction and the resultant valuation provide an attractive opportunity to initiate long positions in OMCs, Antique Stock Broking said in a research report.Country’s biggest auto makers Maruti Suzuki and Tata Motors have wiped off Rs 29,459 crore and Rs 28,224 crore from investor wealth in 2018 so far. The automobile major’s Q4 net profit increased to Rs 1,882 crore from Rs 1,710 crore in the year-ago period.

Source: Economic Times May 07, 2018 06:18 UTC