Prabhudas Lilladher Recommends 'Accumulate' on HPCL, Sets Target at Rs 457
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Moneycontrol•23-01-2026, 11:41
Prabhudas Lilladher Recommends 'Accumulate' on HPCL, Sets Target at Rs 457
- •Prabhudas Lilladher upgrades Hindustan Petroleum Corporation (HPCL) to 'Accumulate' from 'HOLD'.
- •The new target price for HPCL is set at Rs 457, revised from the previous Rs 501.
- •Upgrade is based on improving operational efficiency, completion of major projects, and better return ratios.
- •HPCL's refining throughput increased 5.8% YoY to 6.4 MMT, with GRM at USD 8.9/barrel.
- •Marketing volumes grew 10.5% QoQ / 3.7% YoY to 13.3 MMT, and Vizag refinery to start commercial operations in Q1FY27.
Why It Matters: Prabhudas Lilladher recommends accumulating HPCL shares, citing improved operations and project completion.
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