Refineries Lead FairStock Scores at 77.0

Refineries lead FairStock Scores at 77.0 in the latest sector scan. That is the highest print in the current screen. LPG/CNG/PNG/LNG suppliers follow at 67.8. Public Sector Banks average 66.0 across 12 names. The first-to-second gap is 9.2 points. The first-to-third spread is 11 points. That's wide enough to treat as a quality gap, not noise. Sector scan: refiners set the pace Refineries & Marketing carries a 77.0 average. [Reliance Industries](/stock/RELIANCE) (NSE: RELIANCE) anchors the group with integrated refining and petchem exposure. [Indian Oil Corporation](/stock/IOC) (NSE: IOC) and [Bharat Petroleum](/stock/BPCL) (NSE: BPCL) sit in the same bucket. [Hindustan Petroleum](/stock/HPCL) (NSE: HPCL) adds state-owned marketing reach. The score reflects earnings visibility and cash conversion. Gas suppliers show a 67.8 average. [GAIL](/stock/GAIL) (NSE: GAIL) and [Indraprastha Gas](/stock/IGL) (NSE: IGL) lead the group. [Petronet LNG](/stock/PETRONET) (NSE: PETRONET) sits in the same tier. That's respectable but below the refinery pack. The FairStock model looks like it rewards direct refining exposure more than gas distribution spreads. PSBs and financials hold the second tier Public Sector Banks average 66.0 across 12 companies. [State Bank of India](/stock/SBIN) (NSE: SBIN) leads the group. [Bank of Baroda](/stock/BANKBARODA) (NSE: BANKBARODA) and [Canara Bank](/stock/CANBK) (NSE: CANBK) follow. Credit quality has improved, but the score still sits below refiners. The discount likely comes from lower return profiles and state ownership structures. Financial institutions and housing finance names land in the upper tier as well. [LIC Housing Finance](/stock/LICHSGFIN) (NSE: LICHSGFIN) and [PNB Housing Finance](/stock/PNBHOUSING) (NSE: PNBHOUSING) are part of that cluster. The score pattern suggests credit franchises with stable spreads are clearing the bar, but not with the same margin as energy. Software and hotels lag Software averages lower. [TCS](/s...