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OMCs Stocks To Buy: ICICI Securities Bets On BPCL, Indian Oil, HPCL Remains Top Pick On Attractive Valuations
Coupled with comfortable leverage, improving return ratios and dividend yields of 3.5–4.9%, ICICI Securities believes these three stocks will likely outperform over the next 12–18 months.
28 Nov 2025, 12:54 PM IST 
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![<div class="paragraphs"><p>ICICI Securities believes IOCL, BPCL, HPCL's current valuations remains very attractive and provide material buffer for any variations in earnings in the near term.</p><p>(Image: PilMo Kang/Unsplash]</p></div>](https://media.assettype.com/bloombergquint%2F2022-07%2Fe2392191-398e-4fa2-ad4e-ed1cd785a85e%2Fpilmo_kang_H72SCCTZPE8_unsplash.jpg?rect=0%2C329%2C4000%2C2250&auto=format%2Ccompress&fmt=avif&mode=crop&ar=16%3A9&q=60)
ICICI Securities believes IOCL, BPCL, HPCL's current valuations remains very attractive and provide material buffer for any variations in earnings in the near term.
(Image: PilMo Kang/Unsplash]
India’s oil marketing companies are navigating a mixed margin environment, according to ICICI Securities’ latest sector update. Diesel retail margins slipped into negative territory at Rs 0.3 per litre in mid-November, marking an 18-month low, even as petrol spreads remained strong. Despite this, integrated earnings appear resilient, thanks to robust refining margins.
