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Buy Bharat Petroleum Corporation, target price Rs 353: IIFL


IIFL has buy call on Bharat Petroleum Corporation with a target price of Rs 353. The current market price of Bharat Petroleum Corporation is Rs 341.95. IIFL recommended to keep stoploss at Rs 334.

Bharat Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 74188.44 Crore) operating in Gas & Petroleum sector.

Bharat Petroleum Corporation key Products/Revenue Segments include Petroleum Products, Oil Crude, Other Operating Revenue, Subsidy for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 119508.70 Crore, up 3.77 % from last quarter Total Income of Rs 115167.14 Crore and up 24.60 % from last year same quarter Total Income of Rs 95914.55 Crore. Company has reported net profit after tax of Rs 1481.98 Crore in latest quarter.

The company’s top management includes Mr.Arun Kumar Singh, Mr.Gudey Srinivas, Mr.Gopal Krishna Agarwal, Mr.Ghanshyam Sher, Prof. (Dr)Bhagwati Prasad Saraswat, Dr.(Mrs.)Aiswarya Biswal, Mr.Pradeep Agrawal, Mr.Sanjay Khanna, Mr.Vetsa Ramakrishna Gupta, Mr.Suman Billa. Company has K S Aiyar & Co. as its auditors. As on 31-03-2023, the company has a total of 217 Crore shares outstanding.

Investment Rationale
The stock has given a breakout above its previous swing high.

Promoter/FII Holdings
Promoters held 52.98 per cent stake in the company as of 31-Mar-2023, while FIIs owned 12.57 per cent, DIIs 22.58 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

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