HPCL, BPCL, ONGC shares rally up to 5% on upgrades by Goldman Sachs, Macquarie

Shares of India’s state-run oil refiners, Hindustan Petroleum Corp Ltd (HPCL), Bharat Petroleum Corp Ltd (BPCL), Oil and Natural Gas Corp (ONGC), and Indian Oil Corp (IOC) surged up to 5% on Wednesday after analysts at Macquarie and Goldman Sachs raised their ratings and target prices, citing…