Jefferies Prefers BPCL as Top OMC Bet, Calls it Best Buy Amidst Volatility

Jefferies has reiterated a Buy rating on Bharat Petroleum Corporation (BPCL) with a target price of Rs 410, calling it its top pick among oil marketing companies. The brokerage believes BPCL offers better earnings visibility than Hindustan Petroleum (HPCL) and Indian Oil Corporation (IOCL). Jefferies is cautious on HPCL due to earnings risks from upcoming projects and potential excise duty hikes.