182.55 3.20 (1.78%)
NSE Oct 23, 2020 15:31 PM
Volume: 5.4M
 

182.55
1.78%
Nirmal Bang Institutional
HPCL to lead tactical rally in OMCs despite refining woes We maintain Buy on IOC and upgrade BPCL and HPCL from Accumulate to Buy following revised earnings and TP, which we have rolled over to FY22E. We see PSU refining majors (OMCs) delivering double-digit returns in the next 6-12 months based on the upside leverage to marketing margins under low oil prices below US$40-50/bbl. We believe that these stocks are poised to enter the blue sky phase last seen during FY14-17, when the steep fall in oil price from US$107 to US$47-50/bbl boosted marketing margins and earnings for the OMCs. As a result, IOC and BPCL delivered compounded returns of 39% and 40%, respectively while HPCL's stock price witnessed a CAGR of...
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Hindustan Petroleum .. has an average target of 280.25 from 8 brokers.
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