HPCL can go upto Rs 345: PN Vijay

PN Vijay, Portfolio Manager, www.askpnvijay.com is of the view that HPCL can go upto Rs 345.

Vijay told CNBC-TV18, "I would expect Hindustan Petroleum Corporation (HPCL) on a one year time horizon to go up to atleast Rs 345. It is a perfect hedge stock and I am of the view that the government is finally restructuring the whole subsidy structure and trying to get more out of the consumer and every paisa they do that, it’s a great benefit to HPCL.”
He further added, “It is a contrast stock in the sense when the markets are going down, these stocks tend to go up, so that’s also very useful in a portfolio. So, I would expect one to hold on right now till the target of about Rs 345.”