ICICI Direct's research report on Bharat Petroleum Corporation
Bharat Petroleum Corporation (BPCL) is a public sector refining & marketing company. BPCL operates more than 19000 retail outlets across the country • Petrol & diesel together constitute 63% of marketing sales in FY22.
We maintain our HOLD rating on the stock. We value BPCL at Rs 320 i.e. average of P/BV multiple: Rs 324/share and P/E multiple: Rs 316/share.
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