Oil
HPCL shares slide 3% post Q2 numbers; JM Financial flags concerns over earnings quality
CEII brief
ET EnergyWorld (India) reported on 23 Oct 2026: HPCL shares slide 3% post Q2 numbers; JM Financial flags concerns over earnings quality.
Read the full story on ET EnergyWorld (India)Despite stronger-than-expected refining performance, JM Financial maintained its cautious stance, citing inventory-driven gains, higher debt and concerns over returns from the ₹79,500 crore Rajasthan refinery.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Original reporting © ET EnergyWorld (India). Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
