A re-rating of the refineries stocks is expected in the next few days on the back of impressive results that these companies are expected to declare and also due to high dividend payouts.
With Kochi Refineries coming out with excellent results and giving out a 100 per cent dividend as against its normal 25 per cent payouts, market players are expecting similar bonanzas from Chennai Petro and Bongaigaon Refineries as well.
As for Hindustan Petroleum and Bharat Petroleum, the privatisation story is still on and players are also expecting impressive results from these two companies.
Meanwhile, reports that the disinvestment ministry is likely to begin due diligence for HPCL by June end and appoint an advisor to pilot BPCL