Buy HPCL With Target Of Rs 490
Stock market analyst Salil Sharma is of the view that investors can buy Hindustan Petroleum Corp Ltd (HPCL) stock with stop loss of Rs 460.
According to analyst, the traders can buy the stock on dips with target of Rs 490.
The shares of the company, on July 01, closed at Rs 470.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 484 and a low of Rs 298 on BSE.
Current EPS & P/E ratio stood at 38.32 and 12.47 respectively.
A Fortune 500 company, HPCL, made a twelve-monthly turnover of Rs 1,08,599 Crores and sales/income from operations of Rs 1,14,889 Crores in the last financial year (2009-10), holding around 20% Marketing share in the country and a sturdy market infrastructure.
HPCL runs 2 major refineries yielding a wide variety of petroleum fuels & specialties, one in Mumbai and the other in Vishakapatnam.
The company has an equity stake of 16.95% in MRPL, a high-tech refinery at Mangalore having a capacity of 9 MMTPA.
Moreover, HPCL is building up a refinery at Bhatinda, Punjab, as a JV with Mittal Energy Investments Pvt Ltd.
HPCL also holds and runs the biggest Lube Refinery in India generating Lube Base Oils of worldwide standards having a capacity of 335 TMT.
HPCL's huge marketing network comprises 13 Zonal offices in major cities and 101 Regional Offices facilitated by a Supply & Distribution infrastructure consisting Terminals, Aviation Service Stations, LPG Bottling Plants, and Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships.