HPCL shares: Hold Hindustan Petroleum Corporation, target price Rs 260: ICICI Direct
Hindustan Petroleum Corporation Ltd., incorporated in 1952, is a large capitalization company (having a market capitalization of Rs 34761.53 Crore) operating in the oil and gas sector.
Major product/revenue segments of Hindustan Petroleum Corporation Ltd. include refineries, rents and other operating income for the year ending March 31, 2022.
For the quarter ended 30-06-2022, the company reported consolidated total revenue of Rs 114,835.41 Crore, up 16.21% from last quarter, total revenue of Rs 98,818.10 Crore and in up 57.66% from the same quarter last year, total revenue of Rs 72,838.01 Crore. The company reported net profit after tax of Rs -10,235.31 Crore last quarter.
Lower crude oil prices will help improve the company’s commercial profitability in the medium term. In addition, the brokerage is revising its estimates following the current trend of product cracks
The promoters held 54.9% of the company’s capital as of June 30, 2022, while the FIIs held 18.21% and the DIIs 16.41%.
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