Buy HPCL, target price Rs 250: ICICI Securities

ICICI Securities has given a buy rating to HPCL with a target price of Rs 250. The share price moved down by 2.02 per cent from its previous close of Rs 176.10. The stock’s last traded price is Rs 172.55.

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 26400.23 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 37558.80 Crore, down 43.06 % from last quarter Sales of Rs 65967.46 Crore and down 46.93 % from last year same quarter Sales of Rs 70776.43 Crore. The Company reported net profit after tax of Rs 2810.56 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.1 per cent stake in the company as of June 30, 2020, while FIIs held 16.1 per cent, DIIs 23.6 per cent and public and others 9.2 per cent.