JM Financial has issued a buy recommendation for Hindustan Petroleum Corporation Ltd (HPCL), setting a target price of Rs 275. As of the latest market data, HPCL’s current market price stands at Rs 249.8.
Hindustan Petroleum Corporation Ltd (HPCL), a prominent player in the Gas & Petroleum sector, was established in the year 1952. With a market capitalization of Rs 35,527.54 Crore, it operates as a Large Cap company.
HPCL’s primary Products/Revenue Segments include Refinery, Rent, and Other Operating Revenue, as per the financial year ending on March 31, 2022.
In the financial quarter concluding on June 30, 2023, HPCL reported a Consolidated Total Income of Rs 119,761.74 Crore. This figure represents a notable increase of 10.24% compared to the Total Income of Rs 108,634.71 Crore in the previous quarter and a 4.29% rise compared to the Total Income of Rs 114,835.41 Crore during the same quarter of the previous year. Moreover, the company achieved a net profit after tax amounting to Rs 6,065.78 Crore during the latest quarter.
Promoters continue to have a substantial stake in HPCL, holding 54.9% of the company as of June 30, 2023. Furthermore, FIIs (Foreign Institutional Investors) have a 13.99% ownership, while DIIs (Domestic Institutional Investors) own 22.32%.
This recommendation by JM Financial reflects its positive outlook on Hindustan Petroleum Corporation Ltd (HPCL), indicating potential growth opportunities for investors in the company’s stock.
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