Hold Bharat Petroleum Corporation; target of Rs 331: Prabhudas Lilladher

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26 Aug, 2025 12:21

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We interacted with BPCL management during recent Mumbai refinery visit. Management indicated 1) Expansion of Bina refinery to 11.5MTPA from 7.8MTPA along with 1.2MTPA ethylene capacity will cost Rs400bn 2) polypropylene (PP) capacity addition of 40,000tons will cost Rs50bn 3) plans to file Field Development Plan (FDP) for Brazilian field (BM Seal 11 concession) by Nov-22 and develop the block at $1.6bn over next three years and 4) targets to achieve net zero carbon emissions in Scope 1 and Scope 2 by CY40.

We maintain earnings and rating as ‘HOLD’ at TP of Rs331, as rising diesel marketing losses remain a concern despite healthy refining outlook.

At 10:42 hrs Bharat Petroleum Corporation was quoting at Rs 327.50, down Rs 3.90, or 1.18 percent.

It has touched an intraday high of Rs 333.90 and an intraday low of Rs 326.10.

It was trading with volumes of 53,931 shares, compared to its thirty day average of 231,121 shares, a decrease of -76.67 percent.

In the previous trading session, the share closed up 0.87 percent or Rs 2.85 at Rs 331.40.

The share touched its 52-week high Rs 503.00 and 52-week low Rs 293.50 on 14 September, 2021 and 21 June, 2022, respectively.

Currently, it is trading 34.89 percent below its 52-week high and 11.58 percent above its 52-week low.

Market capitalisation stands at Rs 71,043.03 crore.

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