Buy HPCL, target price Rs 360: Edelweiss

Edelweiss has buy call on Hindustan Petroleum Corporation with a target price of Rs 360. The current market price of Hindustan Petroleum Corporation Ltd. is Rs 332.45.

Time period given by analyst is Intra Day when Hindustan Petroleum Corporation Ltd. price can reach defined target.

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 47152.55 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-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 72838.01 Crore, down -3.39 % from last quarter Total Income of Rs 75394.63 Crore and up 90.10 % from last year same quarter Total Income of Rs 38315.41 Crore. Company reported net profit after tax of Rs 1703.67 Crore in latest quarter.

Investment Rationale
Multi-year breakout, when prices broke above 2018 highs with a recent follow-through

Promoter/FII Holdings
Promoters held 54.9 per cent stake in the company as of 30-Sep-2021, while FIIs owned 18.29 per cent, DIIs 15.93 per cent.