Stock To Buy, Sept 18: Maharatna PSU Stock Falls 7%, PL Sees Shares Rising

Brokerage firm Prabhudas Lilladher has recommended investors to buy Hindustan Petroleum Corporation Ltd with target price of Rs 280 per share. The analyst has urged to keep the stop loss at Rs 245 per share. Current market price of HPCL share is Rs 255.00 per share on BSE with intraday gain of 1.01%. HPCL stock witnessed a decline of 4% in last 1-week and 7% dip in last 3-months. HPCL shares offered return of over 11% in last 1-year and 477% return in last 10-years. Check details below:

HPCL Valuation: According to the analyst, "The stock has corrected well from 310 levels, bottoming out near the 245 level near the trend line support zone, and is currently indicating a positive candle with improved bias, anticipating a further upside move in the coming days. The RSI has also indicated a trend reversal, signaling a buy, and has the potential to rise further. We suggest buying and accumulating this stock for an upside target of 280 while keeping the stop loss at 245."

HPCL Stock Outlook & Return: Current market price of HPCL share is Rs 255.00 per share on BSE. Its 52-week high price is Rs 309.85 per share and 52-week low price is Rs 200.00 per share. The company has a market capitalisation of Rs 36,172.98 crore. Hindustan Petroleum Corporation stock offered shareholders return of 5% in last 6-months, soared 7% YTD, gained 31% in last 3-years, and witnessed a surge of 2% in last 5-years.

HPCL Financial: The public sector undertaking, Hindustan Petroleum Corporation earlier this year announced a consolidated net profit of Rs 6,765.5 crore in the first quarter of the fiscal year 2023-24 as against the net loss of Rs 8,557 crore announced in the corresponding period of preceding fiscal. On a sequential basis, the Maharatna company's net profit soared 87% from Rs 3,608.3 crore in fourth quarter of fiscal year 2023, according to its exchange filing. Its revenue declined at Rs 1.18 lakh crore in the June quarter of FY24 as against Rs1.21 lakh crore a year ago.

HPCL About: HPCL is one of the largest integrated Public Sector Undertaking. It is engaged in the business of refining Crude Oil and marketing of various petroleum products like Asphalt, Diesel, Kerosene, LPG, Lube Oils, Petrol, branded products like ATF (Aviation Turbine Fuel), Power, Turbojet, Naphtha, throughout India and at select foreign countries. Some of these products are exported to other countries, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.