The government on Saturday deregulated the price of diesel. (Photo: Reuters)The government on Saturday deregulated the price of diesel. (Photo: 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)
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