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


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


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