Jefferies maintains a ‘Buy’ on BPCL with a Rs 410 target, citing strong earnings visibility, favorable valuations, and supportive crude price trends. HPCL faces higher risks due to ongoing projects and duty sensitivity. IOCL also rated Buy. Key risks include rising crude, excise hikes, and large new energy capex.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets