IMO2020 rules to support marketing and refining margins going forward. We lower our earnings for FY20/21 to factor in lower refining margins. During Q2, core performance for HPCL was hit by lower than expected refining profits. However, benign crude prices and recovery in refining margins is positive for the OMCs and we expect recovery in H2FY20. OMCs are also likely to benefit from implementation of IMO2020 effective January given...