Buy shares of Indian Oil, HPCL, BPCL, they may rise up to 20%: UBS

UBS has kept a 'buy' rating on the shares of Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC), and increased their price targets. The firm said these stocks have potential upside of 17%-19.5%. UBS said it expects the oil market to ease after September, with Oil Marketing Companies benefitting if their profits shift from refining to marketing.