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JM Financial advises caution on oil marketing companies (OMCs) like HPCL, IOCL, and BPCL due to potential excise duty hikes ...
JM Financial said Rs 3-4 per litre excise duty hike on auto-fuel is quite likely ahead of February 1's Union Budget as it can boost revenue by a sizeable Rs 50,000-70,000 crore on an annualised basis.
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