Feb 07, 2013, 02.34 PM | Source: Moneycontrol.com
Brokerage house has added Hindustan Petroleum Corporation and Sterlite Industries to its ‘Focus List’ of stocks.
"The simplification of holding structure (of Sterlite) and inclusion of high-return oil and gas business is expected to drive an improvement in earnings quality and investor sentiment. We also see growing possibility of value unlocking as chances of stake purchases in HZL and BALCO are rising,” says the Morgan Stanley note.
The brokerage sees HPCL as a levered play on the fuel price reforms theme, as 60 percent of the company’s earnings comes from the oil marketing business. Also, the stock valuation is attractive at 0.9 times price to book value.
Following is Morgan Stanley's complete Focus List:
HPCL, in March 2013, had signed an MoU with the Ra
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Speaking to CNBC-TV18 MK Surana, CMD of HPCL said
Ashwani Gujral of ashwanigujral.com is of the view
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