HPCL shares: Hold Hindustan Petroleum Corporation, target price Rs 260: ICICI Direct

ICICI Direct held the call with a target price of Rs 260. The current market price of Hindustan Petroleum Corporation is Rs 246.65. The period given by the analyst is the year when . the price can reach the set target.

Hindustan Petroleum Corporation Ltd., incorporated in 1952, is a large capitalization company (having a market capitalization of Rs 34761.53 Crore) operating in the oil and gas sector.

Major product/revenue segments of Hindustan Petroleum Corporation Ltd. include refineries, rents and other operating income for the year ending March 31, 2022.

finance

For the quarter ended 30-06-2022, the company reported consolidated total revenue of Rs 114,835.41 Crore, up 16.21% from last quarter, total revenue of Rs 98,818.10 Crore and in up 57.66% from the same quarter last year, total revenue of Rs 72,838.01 Crore. The company reported net profit after tax of Rs -10,235.31 Crore last quarter.

Investment rationale
Lower crude oil prices will help improve the company’s commercial profitability in the medium term. In addition, the brokerage is revising its estimates following the current trend of product cracks

Promoter/Fii Holdings
The promoters held 54.9% of the company’s capital as of June 30, 2022, while the FIIs held 18.21% and the DIIs 16.41%.