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    Motilal Oswal Financial Services neutral on Bharat Petroleum Corporation; target price: Rs 348

    Synopsis

    Bharat Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 72691.66 Crore) operating in Gas & Petroleum sector.

    BPCLShutterstock.com
    BPCL trades at 1.2x FY24E PBV, and the brokerage values the stock at 1.2x Dec’24E P/BV to arrive at its TP of Rs 348.
    Motilal Oswal Financial Services has neutral call on Bharat Petroleum Corporation with a target price of Rs 348. The current market price of Bharat Petroleum Corporation is Rs 343.

    Bharat Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 72691.66 Crore) operating in Gas & Petroleum sector.

    Bharat Petroleum Corporation key Products/Revenue Segments include Petroleum Products, Oil Crude, Other Operating Revenue, Subsidy for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 119508.70 Crore, up 3.77 % from last quarter Total Income of Rs 115167.14 Crore and up 24.60 % from last year same quarter Total Income of Rs 95914.55 Crore. Company has reported net profit after tax of Rs 1481.98 Crore in latest quarter.

    The company’s top management includes Mr.Arun Kumar Singh, Mr.Gudey Srinivas, Mr.Gopal Krishna Agarwal, Mr.Ghanshyam Sher, Prof. (Dr)Bhagwati Prasad Saraswat, Dr.(Mrs.)Aiswarya Biswal, Mr.Pradeep Agrawal, Mr.Sanjay Khanna, Mr.Vetsa Ramakrishna Gupta, Mr.Suman Billa. Company has Borkar & Muzumdar as its auditors. As on 31-12-2022, the company has a total of 217 Crore shares outstanding.

    Investment Rationale
    Crude prices have remained strong even as GRMs fared better than the lasttwo quarters, which may bode well for the stock.

    Promoter/FII Holdings
    Promoters held 52.98 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.53 per cent, DIIs 21.79 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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