Buy BPCL, target price Rs 380: Kotak Securities

Kotak Securities has given a buy rating to Bharat Petroleum Corporation with a target price of Rs 380. The share price moved down by 0.11 per cent from its previous close of Rs 366.40. The stock’s last traded price is Rs 366.

Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 79459.73 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 49408.60 Crore, up 30.03 % from last quarter Sales of Rs 37999.25 Crore and down -23.15 % from last year same quarter Sales of Rs 64289.50 Crore Company reported net profit after tax of Rs 2671.57 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 53 per cent stake in the company as of March 31, 2020, while FIIs held 12.3 per cent, DIIs 19.6 per cent and public and others 15.1 per cent.