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    HomeNewsBusinessStocksBuy Bharat Petroleum Corp; target of Rs 795: Axis Direct

    Buy Bharat Petroleum Corp; target of Rs 795: Axis Direct

    Axis Direct is bullish on Bharat Petroleum Corp has recommended buy rating on the stock with a target price of Rs 795 in its research report dated February 17, 2017.

    February 20, 2017 / 16:46 IST
       
       
      26 Aug, 2025 12:21
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      Axis Direct's research report on Bharat Petroleum Corp

      BPCL aims to complete Kochi refinery upgradation by Mar ’17, and expects full capacity utilization in FY18. We estimate the upgradation to add 8-10% to FY18 EBITDA, driven by (a) improvement in Kochi refinery's GRM by USD 2/bl due to higher distillate yields and reduction in fuel oil production, and (b) higher volumes from 9 mntn to 15 mntn.

      Outlook

      We hike FY18E EPS by 11% to Rs 65due to (a) higher capacity utilization (100% vs. 90% earlier) for Kochi refinery, (b) higher GRM at USD 6.6/bl (USD 6/bl earlier), and (c) lower interest costs inline with 9MFY17 interest yield. Consequently, our TP stands revised to Rs 795 (Rs 740 earlier).
      For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Feb 20, 2017 04:46 pm

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