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Shares of Indian oil retailing companies gained as US crude oil prices tumble.
Hindustan Petroleum Corp rose 2.5 per cent, Bharat Petroleum Corp gained 1.9 per cent and Indian Oil Corp advanced 2.3 per cent.
US crude prices tumbled the most since April on surprise stock build
Nomura says oil retailers will outshine as business outlook gets even better.
IOC and HPCL are Nomura’s top picks.
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