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IndiaPulse
Themes / Oil & Gas

Oil & Gas

Refining, upstream, LNG, pipelines, and energy-security plays.

Oil & GasAuto-built

Theme scorecard

Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.

Build portfolio from this theme
Theme
50
Selective
Quality
54
Valuation
45
Momentum
51
Positive MoS
58%
P/E 64.0 · ROCE 16%
Curated research view

Oil & Gas

A focused investor view: high-conviction names first, then small/micro exposure only as controlled satellite risk. Live U-Score and MoS still come from the current database.

78/100
Theme score
High Conviction
Investability
52.0
Live avg U
-4092.8%
Live avg MoS

Curated company map

Names from the curated theme note. Solid chips are present in the live tagged cohort; dashed chips need tag review, ticker verification, or may be indirect/unlisted exposure.

10/10 live tagged

Investment thesis

Energy security, refining demand, LNG infrastructure, upstream realisations, city gas distribution, and high PSU dividend yields make Oil & Gas a value-heavy cyclical theme.

1-2 year outlook: Very positive for value investors when policy and crude remain stable. OMCs and upstream PSUs can offer strong cash yield but need regulatory monitoring.
Recommended allocation: 8-12%.

Key triggers

  • Refining margin strength
  • Pipeline and LNG capex
  • City gas expansion
  • Upstream realisation improvement

Major risks

  • Crude price volatility
  • Fuel-pricing intervention
  • Inventory losses
  • Energy-transition risk
Small, micro, and SME names should be opt-in exposure. Suggested filters: U-Score above 65, positive MoS, Piotroski 7+, debt/equity below 0.8, promoter pledge below 10%, and enough traded value to exit without slippage.

Thesis

A data-generated Oil & Gas basket from tagged stocks. It is value-heavy and cyclical, so policy risk and normalized margins matter.

  • Energy security
  • Refining and LNG capex
  • Fuel-pricing risk

Top picks · ranked by U-Score within this cohort

Full cohort

IOCLarge
Indian Oil Corporation Limited
Power
DEEP VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +86.2%Piotroski: 8/9ROCE: 19%P/E: 4.5D/E: 0.60
90
U-Score
138.13
Open →
DEEPINDSSmall
Deep Industries Limited
Power
DEEP VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +44.9%Piotroski: 8/9ROCE: 17%P/E: 8.8D/E: 0.11
76
U-Score
519.30
Open →
MRPLSmall
Mangalore Refinery and Petrochemicals Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +58.2%Piotroski: 6/9ROCE: 18%P/E: 13.8D/E: 1.08
72
U-Score
160.34
Open →
ONGCLarge
Oil & Natural Gas Corporation Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +75.6%Piotroski: 8/9ROCE: 14%P/E: 8.0D/E: 0.47
70
U-Score
259.55
Open →
POSITRONSME
Positron Energy Ltd.
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +63.1%Piotroski: 8/9ROCE: 65%P/E: 16.7D/E: 0.67
70
U-Score
188.00
Open →
PETRONETLarge
Petronet LNG Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +36.4%Piotroski: 8/9ROCE: 23%P/E: 10.2D/E: 0.11
69
U-Score
268.80
Open →
GSMFOILSSME
GSM Foils Ltd.
Industrials
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +68.0%Piotroski: 6/9ROCE: 35%P/E: 14.8D/E: 0.59
68
U-Score
203.45
Open →
VEEDOLSmall
Veedol Corporation Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +18.6%Piotroski: 8/9ROCE: 24%P/E: 13.1D/E: 0.02
68
U-Score
1454.10
Open →
GULFOILLUBSmall
Gulf Oil Lubricants India Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +7.4%Piotroski: 8/9ROCE: 26%P/E: 12.2D/E: 0.37
66
U-Score
914.20
Open →
SOCLSME
Sundrex Oil Company Ltd.
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +77.2%Piotroski: 5/9ROCE: 20%P/E: 7.4D/E: 0.39
65
U-Score
28.95
Open →
ARABIANSME
Arabian Petroleum Ltd.
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +80.3%Piotroski: 5/9ROCE: 18%P/E: 6.5D/E: 0.70
64
U-Score
70.00
Open →
NTPCLarge
NTPC Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +67.3%Piotroski: 7/9ROCE: 8%P/E: 13.0D/E: 1.33
61
U-Score
355.65
Open →
OILMid
Oil India Limited
Power
UNDERVALUED

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +70.2%Piotroski: 8/9ROCE: 12%P/E: 11.8D/E: 0.65
60
U-Score
475.95
Open →
ANTELOPUSSmall
Antelopus Selan Energy Limited
Power
FAIR VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: -6.0%Piotroski: 8/9ROCE: 21%P/E: 35.3D/E: 0.01
57
U-Score
853.85
Open →
GANDHARSmall
Gandhar Oil Refinery (India) Limited
Power
FAIR VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +29.5%Piotroski: 7/9ROCE: 13%P/E: 11.4D/E: 0.23
55
U-Score
159.34
Open →
RELIANCELarge
Reliance Industries Limited
Power
FAIR VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +46.6%Piotroski: 8/9ROCE: 10%P/E: 22.0D/E: 0.45
48
U-Score
1269.20
Open →
QFILSME
Quality Foils (India) Ltd.
Industrials
FAIR VALUE

Auto-included from the Oil & Gas tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +70.5%Piotroski: 5/9ROCE: 7%P/E: 8.9D/E: 2.06
46
U-Score
46.10
Open →
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The rationale above is editorial — the ranking uses our U-Score engine so the names you see first are the strongest fundamentals fit, not the most popular or most-mentioned. Re-rank yourself if you weigh valuation or quality differently. All information is for study purposes only — consult your financial advisor before investing.