BPCL, HPCL, IOCL share price gain up to 139% in a year; Should you Buy, Sell or Hold the stocks

livemint.com:

Delhivery shares: Kotak Equities upgrades stock to ‘Buy’, raises target price; sees over 24% upside Analysts at Antique Stock Broking said that "OMCs are up 70%–100% over the last four months compared to Nifty’s 15%. Despite the sharp run-up, valuations remain inexpensive and fundamentals robust. Both refining and marketing margins remain strong, while LPG is likely to turn profitable again in 2–3 months".

The refining upcycle continues as demand growth continues to exceed supply growth from new capacity additions, highlighted analysts. The refining margins that had fallen few months back have bounced back well. The Russian discounts on Crude oil imported by Oil marketing companies is favorable and expected to remain supportive for refining margins.

Crude oil prices too are rangebound. The Brent that had surged in September has cooled down and since mid December has generally ranged between $73-82 a barrel. This is favorable for margins for oil marketing companies.

Also Read- RIL, HDFC Bank, SBI, Maruti among 19 high-conviction ideas for March by InCred Equities; check full list here Crude prices are expected to remain benign over the next 18–24 months as non-OPEC+ supply exceeds demand growth, said analysts at Antique. While OPEC+ rolling over voluntary cuts into 2Q could push crude up in the near term, it is unlikely to run away given the large supply overhang they added. The valuations are also inexpensive despite run up in stock prices say analysts.