Buy Bharat Petroleum Corporation; target of Rs 520: ICICI Direct

ICICI Direct is bullish on Bharat Petroleum Corporation has recommended buy rating on the stock with a target price of Rs 520 in its research report dated November 02, 2021.

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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 Under the ongoing divestment process, the government will sell its 53% stake in the company to a private player

Outlook

We upgrade our rating on the stock from HOLD to BUY We value BPCL at Rs 520 i.e. average of P/BV multiple: Rs 527/share and P/E multiple: Rs 512/share

For all recommendations report, click here

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