The retail marketing of Petroleum Products in India is done by the Public Sector Oil Marketing Companies (OMC's) such as Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and other private players involved for the same. 

This report presents a comprehensive Equity Research on 3 Public Sector OMC's, IOCL , BPCL and HPCL, and presents various factors in place, such as that of Privatisation of BPCl, Healthy Market Margins - which has set to be a key driver for the growth, the aspects of different cyclical aspects on inventories, outlook-recovery for the Oil Market, Benchmark GRM (Gross Refining Margins) and senstivity analysis on these companies. The benchmark framework used are :

- Marketing Strength and senstivity analysis.
- Refining Efficiencies and Capacities.
- Balance Sheet Strength.
- Valuation Comfort.

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