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The inventory rallied following its post-earnings convention name held on Tuesday, the place BPCL administration introduced that it deliberate to speculate between Rs 1.5-1.7 lakh crore in capex over the following 5 years.
The information was reported by Reuters quoting an organization government.
Different key takeaways from the convention name, had been:
1. The corporate is well-positioned to begin the Mozambique gasoline undertaking. It has to this point invested $1.6 billion within the undertaking.
2. It’s engaged on a suggestion doc for a deliberate rights problem of shares.
3. Proper now BPCL’S crude imports will not be impacted because of the Purple Sea disaster.4. The corporate sees oil costs at $80-$90/BBL within the subsequent 6 months.
BPCL’s inventory has additionally obtained a thumbs-up from US brokerage Citi, which has retained its ‘purchase’ score for a worth goal of Rs 560. In its post-earnings inventory evaluation, Citi highlighted a sturdy refining efficiency from the state-run refiner together with a pointy decline in its debt.
BPCL on Monday reported a 73.4% year-on-year (YoY) rise in internet revenue for the quarter ended December 2023 at Rs 3,397.30 crore. The revenue for the quarter was increased than an ETNow ballot estimate of Rs 3,271 crore. Income from operations, internet of excise obligation, declined 3% YoY to Rs 1.15 lakh crore, however the determine was increased than the estimated Rs 1.05 lakh crore. Sequentially, the underside line plunged 60%, whereas the topline rose by greater than 12%.
Learn extra at: BPCL Q3 Outcomes: PAT soars 73% YoY to Rs 3,397 crore regardless of fall in income
In the meantime, brokerage Motilal Oswal took a ‘impartial’ view on the counter forward of its convention name. It stated that BPCL’s Q3 present was according to its estimates.
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(Disclaimer: Suggestions, options, views and opinions given by the specialists are their very own. These don’t characterize the views of Financial Instances)
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