Buy HPCL, target price Rs 308: Motilal Oswal

Motilal Oswal has given a buy rating to Hindustan Petroleum Corporation with a target price of Rs 308. The share price moved down by 0.42 per cent from its previous close of Rs 215.30. The stock’s last traded price is Rs 214.40.

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 32579.33 Crore) operating in Gas & Petroleum sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 51570.10 Crore, up 37.30 % from last quarter Sales of Rs 37558.80 Crore and down -14.99 % from last year same quarter Sales of Rs 60661.77 Crore Company reported net profit after tax of Rs 2368.46 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 15.5 per cent, DIIs 22.3 per cent and public and others 11.1 per cent.