OMC Stocks Rally Up to 3.5%: Why IOC, HPCL and BPCL Are Rising as Brent Crude Pulls Back
- September 30, 2026
- Posted by: Chaitanya Auti
- Category: News
IOC Rs 135.16, up 2.9%. BPCL Rs 305.15, up 1.9%. HPCL Rs 355.90, up 1.9% (30 Sep, 12:23 PM). GAIL, Petronet LNG, IGL up over 1%. Brent crude pulls back.
Quick Answer
OMC stocks rallied on 30 September 2026, with IOC rising up to 3.55%, BPCL up to 2.97% and HPCL up to 2.35%, as Brent crude pulled back sharply. Crude eased as exports from the Middle East began to recover, calming immediate supply worries after oil moved above USD 100 per barrel earlier this week. Lower crude cuts raw material costs for oil marketing companies, which helps their margins. Gas stocks such as GAIL, Petronet LNG and Indraprastha Gas also gained.
OMC stocks were among the top gainers on Wednesday. Indian Oil Corporation climbed as much as 3.55% to Rs 135.99 on the NSE, Bharat Petroleum rose up to 2.97% to Rs 308.25 and Hindustan Petroleum gained up to 2.35% to Rs 357.40. Around 12:23 PM, all three were still up close to 2% or more.
The buying spread across the energy space. GAIL rose 1.53%, Petronet LNG gained 1.59%, Indraprastha Gas added 1.39% and Reliance Industries was up 0.81%. The moves came while the Nifty 50 traded broadly flat.
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Why Are OMC Stocks Rising Today?
OMC stocks are rising because Brent crude pulled back sharply as exports from the Middle East began to recover, easing some of the immediate supply concerns despite the ongoing conflict. Earlier this week, crude had moved back above USD 100 per barrel, which weighed heavily on oil marketing companies.
The link is simple. Crude oil is the main raw material for IOC, HPCL and BPCL. When crude prices fall and retail petrol and diesel prices stay broadly stable, the gap between what these companies pay for crude and what they earn on fuel sales widens, improving marketing margins. When crude spikes, that gap narrows or turns negative.
High crude prices have also been a big reason for foreign investor selling in Indian equities this month, so any relief on oil tends to lift sentiment across rate-sensitive and energy stocks.
IOC, HPCL and BPCL Share Price Today
Here is how the major oil and gas stocks were trading around 12:23 PM on 30 September 2026, based on exchange data.
| Stock | Price (Rs) | Change (%) | Day High (Rs) | P/B | Dividend Yield |
|---|---|---|---|---|---|
| Indian Oil Corporation | 135.16 | +2.92 | 135.99 | 0.85 | 6.10% |
| Bharat Petroleum | 305.15 | +1.94 | 308.25 | 1.30 | 5.74% |
| Hindustan Petroleum | 355.90 | +1.92 | 357.40 | 1.13 | 6.95% |
| GAIL (India) | 172.65 | +1.53 | 172.72 | – | – |
| Petronet LNG | 287.45 | +1.59 | 288.90 | – | – |
| Indraprastha Gas | 144.00 | +1.39 | 145.24 | – | – |
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Are OMC Stocks Undervalued?
OMC stocks look inexpensive on book value. IOC trades at about 0.85 times book value and 5.2 times trailing earnings, while BPCL trades at about 1.3 times book and 7.6 times earnings. HPCL trades at about 1.13 times book. Trailing dividend yields range from about 5.7% to nearly 7%.
Those low multiples reflect a tough 2026. By July, HPCL was down about 22% for the year, BPCL about 21% and IOC about 17%, as high crude prices squeezed margins. That means the IOC share price, BPCL share price and HPCL share price all have room to recover if crude stays lower, but also that the market has little faith in a quick turnaround.
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What to Watch Next for OMC Stocks
Crude oil remains the single biggest driver for OMC stocks. Tensions in the Middle East are still unresolved, and any fresh disruption could send prices back above USD 100 per barrel. Investors should also watch for any change in retail fuel prices, which the companies adjust with government oversight.
The September quarter results, due in the coming weeks, will show how much the crude spike hurt marketing margins and whether refining margins helped offset the damage.
Key Risks
- Crude volatility: A rebound in Brent above USD 100 would pressure margins again.
- Pricing controls: Retail fuel prices may not rise in step with crude, limiting pass-through.
- Rupee weakness: A weaker rupee raises the cost of imported crude.
- Policy risk: Government decisions on subsidies or taxes can affect earnings.
Bottom Line on OMC Stocks
OMC stocks rallied up to 3.5% on Wednesday as Brent crude pulled back from above USD 100 per barrel, lifting IOC, HPCL and BPCL along with gas stocks. Low valuations and high dividend yields offer support, but crude prices and Middle East developments will keep these stocks volatile. Consult a SEBI-registered advisor before investing.
Disclaimer: Data and figures in this article are sourced from publicly available information and reflect intraday levels at the time of writing. These may or may not be accurate. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on OMC Stocks
Why are OMC stocks rising today?
Ans. OMC stocks rose on 30 September 2026 as Brent crude pulled back sharply after recovering Middle East exports eased immediate supply worries. Lower crude prices cut raw material costs for oil marketing companies such as IOC, HPCL and BPCL, improving their margins.
How much did IOC, HPCL and BPCL rise today?
Ans. IOC rose as much as 3.55% to Rs 135.99, BPCL gained up to 2.97% to Rs 308.25 and HPCL rose up to 2.35% to Rs 357.40 on the NSE on 30 September 2026.
Why do crude oil prices affect OMC stocks?
Ans. Crude oil is the main raw material for oil marketing companies. When crude prices fall while retail fuel prices stay broadly stable, their marketing margins improve, and when crude rises, margins shrink.
Which OMC stock has the highest dividend yield?
Ans. Based on trailing payouts, HPCL has a dividend yield of about 6.95%, IOC about 6.10% and BPCL about 5.74% at current prices. Future dividends depend on earnings and are not guaranteed.
Are OMC stocks undervalued?
Ans. IOC trades at about 0.85 times book value and BPCL at about 1.3 times, which is low by historical standards. However, their earnings swing with crude prices and government fuel pricing decisions.
Should I buy OMC stocks now?
Ans. OMC stocks can benefit from lower crude prices, but crude remains volatile because of Middle East tensions. Consult a SEBI-registered advisor before investing.