HPCL Short Term Buy Call
Technical analyst Husseini Wadharia of Techno Shares is bullish on Hindustan Petroleum Corporation Limited (HPCL) and has maintained 'buy' rating on the stock with a target of Rs 347.
According to Wadharia, the stock can be purchased with a stop loss of Rs 330.
Today, the stock of the company opened at Rs 330 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 55.45 and a low of Rs 298 on BSE.
Current EPS & P/E ratio stood at 34.60 and 9.68 respectively.
HPCL is poised to amalgamate Prize Petroleum Co Ltd (PPCL) with itself after efforts to persuade buyers for a 50% equity stake in its oil exploration company didn't yield positive reaction.
HPCL, which possesses 50% equity in PPCL, stated that its board would take a concluding verdict on March 25.
Out of the remaining equity stake, ICICI Bank possesses 35%, ICICI Ventures 10% and HDFC Bank 5%.
Hindustan Petroleum Corporation (HPCL) stated that it has registered a growth of 6.72 times y-o-y net profit for the three month period ended December 2010 to Rs 2.11 billion.
During the Oct-Dec period, the company's total income surged 21.71% y-o-y to Rs 342.01 billion.
The company's EPS for the said period stood at Rs 6.23.