Stock market analyst Salil Sharma has maintained 'buy' rating on Hindustan Petroleum Corporation Limited (HPCL) stock with a target of Rs 552.

The strict stop loss for the stock is Rs 539.

The stock of the company, on September 21, closed at Rs 539.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 555.45 and a low of Rs 298 on BSE.

Current EPS is -36.46.

HPCL-Mittal Energy (HMEL), a JV between HPCL and Mittal Energy Investment Pte, Singapore is mulling over an IPO once its 9 mtpa refinery plant at Bhatinda gets finished by March next year.

Mr. S Roy Choudhury, CMD, HPCL, said, "The project is slated for commissioning next year, which will balance out our refining and marketing portfolio. Associated distribution infrastructure, includi

Hindustan Petroleum Corporation Ltd (HPCL) is looking to buy oil blocks in African nations.

Mr. Roy, however, did not reveal any further details.

For 2010-11, HPCL has earmarked capex worth Rs 4,000 crore.

However, this could be amended upwards considering that some high-ticket investments are being projected for key infra regions.