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    Buy Hindustan Petroleum Corporation, target price Rs 235: Edelweiss

    Synopsis

    Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 29661.85 Crore) operating in Gas & Petroleum sector.

    Buy Hindustan Petroleum CorporationAgencies
    Promoters held 54.9 per cent stake in the company as of 30-Sep-2022, while FIIs owned 18.21 per cent, DIIs 17.98 per cent.
    Edelweiss has buy call on Hindustan Petroleum Corporation with a target price of Rs 235. The current market price of Hindustan Petroleum Corporation Ltd. is Rs 209.1.

    Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 29661.85 Crore) operating in Gas & Petroleum sector.

    Hindustan Petroleum Corporation Ltd. key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 108742.66 Crore, down -5.31 % from last quarter Total Income of Rs 114835.41 Crore and up 23.45 % from last year same quarter Total Income of Rs 88085.42 Crore. Company reported net profit after tax of Rs -2219.72 Crore in latest quarter.

    Investment Rationale
    Buying demand near 204-207 range . Volatility contraction is sign of bottoming out formation.

    Promoter/FII Holdings
    Promoters held 54.9 per cent stake in the company as of 30-Sep-2022, while FIIs owned 18.21 per cent, DIIs 17.98 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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