<ul><li>Oil marketing companies (OMCs) may be in a sweet spot due to strong margins and soft crude prices.</li><li>The Indian government raised excise duty on petrol and diesel while keeping pump prices unchanged.</li><li>Morgan Stanley and Emkay Global believe this move strengthens earnings visibility for fuel retailers.</li><li>Emkay estimates OMCs to have above-normal marketing margins, offsetting projected under-recoveries.</li></ul>

HPCL 'Key' Pick, Emkay Says, As Analysts See OMCs In 'Sweet Spot'

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