ICICI Direct has given Buy recommendation for Bharat Petroleum Corporation with a target price of Rs. 520 in its research report issued on Nov 02, 2021
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