Edelweiss recommended hold rating on Hindustan Petroleum Corporation with a target price of Rs 614 in its research report dated February 13, 2017.
Edelweiss' research report on Hindustan Petroleum Corporation
Q4FY17 appears mixed as: 1) QTD Singapore benchmark, at USD6.8/bbl, is flat QoQ; and 2) while QTD diesel margin is down 5%, petrol margin is up 11% QoQ. The highly profitable Bhatinda refinery will continue to drive consolidated earnings. Maintain ‘HOLD’ with target price of INR 614. HPCL offers an attractive dividend yield of 4%.
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