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Awaiting Diesel Price Hike: Sanjeev Prasad

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September 11: A diesel price hike is critical now for OMCs, says Sanjeev Prasad of Kotak Institutional Equities. Even with rupee at 62 per dollar, the oil subsidies will be much higher than estimated, he says, adding that fiscal deficit may reach 5.5% of FY14 GDP. Moreover, he warns that the import-export parity decision may be an overhang for OMCs, with a move towards export parity likely to hit refining margins.