Buy Bharat Petroleum Corporation, target price Rs 509: ICICI Direct

ICICI Direct has buy call on Bharat Petroleum Corporation with a target price of Rs 509. The current market price of Bharat Petroleum Corporation is Rs 500.25.

Time period given by analyst is intraday when Bharat Petroleum Corporation Ltd. price can reach defined target.
Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 108788.03 Crore) operating in Gas & Petroleum sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 71365.44 Crore, down -7.74 % from last quarter Total Income of Rs 77356.64 Crore and up 85.19 % from last year same quarter Total Income of Rs 38536.24 Crore. Company reported net profit after tax of Rs 2611.99 Crore in latest quarter.

Investment Rationale
Price close above previous intermediate highs & sustaining above 13 day EMA

Promoter/FII Holdings
Promoters held 53 per cent stake in the company as of June 30, 2021, while FIIs held 13 per cent, DIIs 23.2 per cent and public and others 10.9 per cent.