OMC Shares Rise Up to 6% Amid Falling Crude Oil Prices| Buy or Hold?

OMC Shares Surge Up to 6% as Crude Oil Prices Drop; Positive Catalysts Ahead?

Key Stock Movements:
- HPCL: +6% to ₹409
- BPCL: +5% to ₹325.35
- IOC: +4% to ₹149.50
Market Trend: Shares of state-owned oil marketing companies (OMCs) gained up to 6% in Monday’s intra-day trade, benefitting from a slump in crude oil prices by over $2 a barrel after OPEC+ members announced a production increase.
Outlook: While Motilal Oswal Financial Services suggests the rally might be nearing its last phase, they see a few positive catalysts still in play.