Jefferies raises HPCL target price on diesel deregulation, price cut
The US-based global investment bank has raised its target price on HPCL to Rs 640 from Rs 570. It says HPCL's earnings from diesel deregulation may double over FY14.
- Oct 20, 2014,
- Updated Oct 20, 2014 10:22 AM IST
Hindustan Petroleum Corporation (HPCL) is likely to benefit most from diesel deregulation, says Jefferies.
The US-based global investment bank has raised its target price on HPCL to Rs 640 from Rs 570.
The government on Saturday deregulated the price of diesel, leading to a cut in its price by Rs 3.37 a litre, and raised the price of natural gas.
Jefferies says HPCL's earnings from diesel deregulation may double in the current fiscal over FY14.
(Reuters)
Hindustan Petroleum Corporation (HPCL) is likely to benefit most from diesel deregulation, says Jefferies.
The US-based global investment bank has raised its target price on HPCL to Rs 640 from Rs 570.
The government on Saturday deregulated the price of diesel, leading to a cut in its price by Rs 3.37 a litre, and raised the price of natural gas.
Jefferies says HPCL's earnings from diesel deregulation may double in the current fiscal over FY14.
(Reuters)